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Here is a summary of the 2011 oil industry subsidies compiled by Taxpayers for Common Sense in its report, "Subsidy Gusher."
Volumetric Ethanol Excise Tax Credit - $31 billion.
Intangible Drilling Costs - $8.9 billion.
Oil and Gas Royalty Relief - $6.9 billion.
Percentage Depletion Allowance - $4.327 billion.
Refinery Equipment Deductions - $2.3 billion.
Geological and Geophysical Costs Tax Credit - $698 million.
Natural Gas Distribution Lines - $500 million.
Ultradeepwater and Unconventional Natural Gas and other Petroleum Resources R&D - $230 million.
Passive Loss Exemption - $105 million.
Unconventional Fossil Technology Program - $100 million.
Other subsidies - $161 million.
It's a clever idea, but the execution leaves much to be desired. The old "Smart Roadster" (https://en.wikipedia.org/wiki/Smart_Roadster) would have been a better platform. 80 hp is a little sparse, but not too awful, especially if the Roadster's weight could be maintained in electric form (around 1750 pounds).
Much of the bloat and poor performance can be traced to (1) ornery mandated safety standards, and (2) convenience/habits of unfit and voluminous consumers. A car designed for a 120-pound 19-year-old kid who grew up racing go-karts would be more sensible... in other words, something more in the spirit of the Smart Roadster.
Once again, though it's not the sort of car that I'd actually buy, I'm gratified that at least it exists.
Again, not one subsidy is listed. Just a bunch of business tax deductions and credits available to anybody in any kind of energy/mining industry.
That’s the point. We offer industry specific tax rebates to that sector that in effect subsidizes them. To say that oil and gas get no government support is completely disingenuous. Hell, we are sending troops to assist the Saudis so their oil production isn’t disrupted. You think that’s free? It costs a lot more than a few tax rebates on electric cars.
Maybe the answer should have been, "It did, it just sucks". Smart pulled out of the U.S.A., didn't it? But the price point ($22K before Fed subsidy) sure is tasty. For $15K (out of pocket), this thing would pretty much pay for itself in eight or ten years of driving for me, it would be a "no brainer", my IC van would sit unused 80 or 90% of the time. If it were still available, I'd look real hard at it right now.
And if the Electric Kia Soul could attain this price point, the line for them would go around the country.
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