Starting in 1980 oil and gas companies just needed to add the word "depletable natural resources" in the description of business activity when filing their incorporation papers, and sha-zam, they don't pay corporate income tax. Never heard of it? But do you get it? NEVER PAY TAX. NEVER
Depletable does not apply to renewables. Solar and wind are never depletable. Thats the beauty, they just keep on coming. This word, depletable is the tax free fortress the Kochs of the world fight from.
The oil coal and gas industry love it, love it love it. And they don't boast about it either, instead they whine the "green energy" guys are the ones making off with subsidies and tax credits and gifts and all manner of socialized anti industry anti american welfare. It just ain't so. World wide fossil fuel got government breaks and support of almost $1 trillion last year, "green' got less than 5% as much.
To correct this, either close the fossil fuel break or give it also to the "greens", the Master Limited Partnerships Parity Act is trying to do this, it's knocking around the Congress with a little bipartisan support, Alaska Sen. Lisa Murkowski and Rep. Ted Poe of Texas recently joining.
Next time you get that old shit about wind being too expensive if not for gov. help, remember the info above. Also, ask your congressman and senator to get on board.
Good stuff yf!!
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