(01-27-2021 12:21 PM)OptimisticOwl Wrote:  Pause

"Federal agencies also will be ordered to eliminate fossil fuel subsidies “and identify new opportunities to spur innovation.” Overhauling the tax breaks — worth billions of dollars to the oil, coal and gas industries — to help pay for Mr. Biden’s $2 trillion climate change plan was also a major campaign promise."

A. If worldwide demand remains level, this just means other producing countries will sell the oil instead of us.
B. Most of the money lost to the elimination of the tax breaks will be recvouped at the pumps - from the consumer.
C. The rest will be recouped by laying off workers.

Now I think all of us here can afford the $4 or $5 gas. Who cannot? Small businessmen and the lowest income classes.

I still get a chuckle over the 'subsidies' words. The only one that really stands out as nothing more than a time deferral is the depletion allowance -- and it is only available to the smallest of the producers.

But, I guess in progressive speak, time deferrals == subsidies.