Big Oil Fears The Electric Revolution, Wants EV Tax Credit Eliminated NOW

There should be no bribe to influence people as to what car they should buy. That isn't free market.

Either are tax incentives for oil production.

@MD Agree. When a nation is $22T in debt, tax breaks for big oil, big Pharma, Banking, Tech or Auto's makes no sense. Buy what you like, but don't think the Government should help you out (when you are more than capable of paying for it yourself).

Lol I wonder if these Oil-soaked clowns are ready to give up their own Socialism via tax cuts and writeoffs for oil drilling. I guess all that extra padding to their own personal bank accounts due to profit-based salary bonuses has gone to their heads and they have forgotten about the hundreds of $$$ Billions in benefits afforded to them that no other industry gets.

I’ve said it before and I’ll say it again. If these Oil industry barons can get THEIR Socialism, you can sure as hell believe I’m going to get MINE.

So you hate immorality and you plan to solve it by being immoral? #hypocrite

That's smart, let's ship $$$ over to the middle east instead of supporting an American company.

Not a big oil man but there are so many better things to use tax payer money on
...education, social security, homelessness, better roads, etc etc.

The tax credit should be immediately eliminated. It distorts the marketplace and the money basically goes into the corporate pockets as extra profit margin.

The economically correct way to incentive vehicle manufacturers to produce No/Low Emissions vehicles is on the macro side - with fleet wide pollution and fuel economy averages which incentiveizes the manufacturer to either produce an emissions/fuel efficient fleet or else do so by rolling out EV's or even by buying credits.

I have nothing against Tesla selling EV credits to GM, Ford, MB, etc. - but giving a cash credit to consumers is completely wrong, economically.

Oil has a geopolitical component. If we are able to find more oil and use new technology to access the oil it makes us more independent and less reliant on an unstable part if the world. The tax breaks for oil are largely for this purpose.
You want to hurt Iran and Russia, pump lots of oil and drive the price down as their economies are dependent on it.
The tax breaks for buying an EV are misguided.

Find oil where... We can pump all the oil from every US territory and it would not be enough. And talking about handouts.. lol.. Oil companies make billions a quarter and also get tons of incentives.

We are NOT running out of oil. That's just Liberal hogwash.

SJ. The USA is now a major oil producer thanks to fracking. Far far less need to import middle east oil. Starting to export oil and gas. Creates USA jobs too.

https://www.americanprogress.org/issues/green/reports/2016/05/26/138049/it-is-time-to-phase-out-9-unnecessary-oil-and-gas-tax-breaks/

Is a breakdown of oil tax breaks afforded to the oil industry that directly benefits them and their salary bonuses based on profits, and also socializes the true cost of gasoline at the pump. It’s funny that the same people who bash EV tax credits for companies like Tesla ignore or excuse the similar tax breaks afforded to oil industry honchos. They also ignore the political excuse given that oil industry tax breaks keep the cost of gas at the pump down from what they otherwise would be. ...meaning that every gallon of gas to put in your car is actually another gallon of Socialism.

I’ll keep repeating it. If Oil industry honchos can get THEIR Socialism, you can sure as hell bet I’m going to get MINE.

I would rather have a carbon tax than EV or Fossil Fuel (FF) incentives. Let's level the playing field and see who will win out.

Speaking of lobbying effort from the FF industries, their fear of the EVolution is real and it shows. It's only a matter of time before they come crumbling down. It's already happening in EU and China. It appears the US is the last stronghold for FF behind the MAGA mob.

#Bigotry

...and let’s not even START to talk about the Socialism involved in spending $$$ Trillions of taxpayer dollars keeping military deployments in oil-soaked hostile regions of the globe just to keep the oil pipes and tankers flowing and gas prices down at the pump. Just think of how all that $$$ Military spending could be spent diversifying our National Security with an armada of native energy technologies invested and deployed RIGHT HERE instead of spent keeping sheiks and tin pot dictators rolling in wealth.

But that would take actual effort. It’s just too easy for politicians to just let the current Socialism involved with keeping an Oil-based economy afloat.

IF you did not want to Start - WHY DID YOU then?

I wish that the Middle east could be broken down into just OIL - and which time we could tap vast reserves never touched in the Atlantic Shelf - and put them all out of business. However, the politics of the Middle East is far more complicated than even a bunch of Fraudulent religions can even explain - they have been fighting there for 3000 years - and will stop when the Milky Way and the Andromeda Galaxies collide and end the earth as we know it.

Big Oil companies want their special tax breaks and subsidies they have been getting for over 100 years...how dare consumers get a tax credit for buying a vehicle that doesn't guzzle gasoline/diesel! Hypocrites.