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House Tax Bill Prefers Fossil Fuels Over Green Energy

So far, the House tax bill, passed wholly by the Republican party, picks the winners and losers in the energy industry.

Wind power and other green energy actors are the losers in this new economic model, according to leading economic analysis.

Oil, gas, and nuclear power are proffered, on the other hand, making either energy source preferred to hydropower or any of its green cousins.

"It's a dirty tax deal for dirty energy," Jeff Tittel, of the New Jersey Sierra Club, told ABC News. "Trump's tax bill is a clear assault on renewable energy including wind, electric vehicles, and solar power. While keeping the bulk of tax credits for the oil and other fossil fuel industries, the bill would cut important credits for green fuels."

Originally, crude oil was only used for lighting. This changed following the invention of the internal combustion engine, which outperformed steam engine in power, range and ease of operation and maintenance, and the invention of the conveyor belt, which made it possible to mass-produce the internal combustion engine at a price which was affordable to the masses. Not much later, crude oil became the transportation fuel of choice. The horse drawn carriage was replaced by the car; the locomotive by the diesel train; the steamship by the motor vessel; and the zeppelin by the airplane.

For a long time, natural gas was an unwanted by-product from crude oil production, and typically burned off (flared) at the production site. That was until, again, technological innovation made utilization of the benefits in natural gas possible. Improvements in pipeline technology made it possible to use natural gas as a feedstock for the chemicals industry, and as fuel for home heating, cooking and power generation. Later on, LNG technology improvements greatly expanded the market for natural gas and made it truly global.

By Zainab Calcuttawala for Oilprice.com

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  • cms on November 07 2017 said:
    Natural gas was not just flared in the early days. It was frequently burned to provide carbon black https://aoghs.org/products/oilfield-paraffin/
  • Mike T on November 06 2017 said:
    At what point will the media stop calling hydrocarbons "Fossil Fuels"? This is grade 2 kind of nonsense. When we are finding methane and hydrocarbons in outer galaxy's and miles beneath the ocean floor, perhaps we finally need to realize that the old "Dinosaur and squashed cabbage" hypothesis does not hold water and needs to be revisited.
  • Dan on November 06 2017 said:
    The traffic in my vacation land is still busy, very busy. I don't understand the draw during cold,wet October and November but it hasn't slowed down much. It's snowed 3 times so send the natural gas our way and build 243 natural gas electric plants for your EVS just to get started for the auto industry 2020 push for EVs. That's jobs for thousands building those plants but quit stopping them being built. Can't have one without the other.
  • Bobby P on November 05 2017 said:
    Really...you want to talk about winners and losers...LOL! The Oil Industry is far more important that any uneconomical & inefficient Renewable energy industry, which keeps sucking up tax payers money to stay afloat!
  • Jack b :) on November 05 2017 said:
    It's refreshing to see that the adults are finally back in charge. The btu's to run the world's economic engine are simply not there with the so-called renewables and never will be. The green movement is emotion-driven, and has been built on so many lies and so MUCH deceit that it's just breathtaking. Washington's not the only place that hucksters and outright criminals thrive, it seems.
  • Gary Novak on November 04 2017 said:
    Your bias is obvious when you present the Sierra Club as "leading economic analysis." Democrats, of course, are not picking winners and losers when they give a $7,500 tax deduction to EV purchasers. And, of course, Obama was not picking winners and losers when he intended to make coal prohibitively expensive. Be a greenie if you want, but don't pretend you are not picking winners and losers.
  • Shelly on November 04 2017 said:
    It is so nice & refreshing to see the US Government finally realizing how great of an Employer the Oil Industry is and how important it is to the rest of American Industries. Oil employees Divers, Boats Companies, Caterers, Mechanics, Shipyards, Operators, Engineers, Attorneys, Surveyors, Large Equpment Companies, Pipeline Companies, Drivers, Abstract Researchers, Landman, & they provide the revenue in copy fees & recordation fees needed to run Clerk of Court Offices at least in Louisiana. So Oil employees much more than just the big oil company. I think Tesla needs to just go under the “electric car” it seems can’t compete with the combustible engine. They can’t even roll out their cars as promised.

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