From LBN: Obama will ask G-20 to end fossil fuel subsidy hypocrisy

[joshcryer]

On Tuesday, September 22, President Obama will give a high profile speech to the United Nations in an effort to jump-start Copenhagen negotiations before the G-20 meetings September 24-25. According to a leaked White House letter (pdf), part of his agenda will include an audacious statement:

Eliminating fossil fuel and electricity subsidies would help energy markets work better and improve our energy security. It also is a logical step in combating global climate change, as it would encourage energy conservation, and facilitate new technologies.

He will ask the G-20 countries, including our own, to end the hypocritical practice of billions of dollars of subsidies to dirty, carbon-emitting fuels while preaching to developing countries about their carbon emissions. If you thought the health insurers hated Obama, it ain't nothing compared to the reaction by Exxon Mobil and pals!

Two studies quantifying American fossil fuel subsidies have both concluded that the oil & gas industry receives billions of tax breaks and other subsidies every year. An Environmental Law Institute report studying 2002-08 found that fossil fuels obtained $70.2 billion over a seven year period

More at link: http://www.dailykos.com/storyonly/2009/9/18/783752/-Leaked:-Obama-will-ask-G-20-to-end-fossil-fuel-subsidy-hypocrisy

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On one hand I find this amazing and awesome, and if G-20 calls Obama's bluff, then we may well be actually on track. On the other hand, I see it for what it is, a bluff. I sincerely hope I'm wrong.

[excess_3]

1. subsidized cars are OK ...

bailouts for GM and Chrysler.
cash for clunkers, is OK
but electricity for everyone is bad..
.....................
umm, sure

[imdjh]

2. Good response.

[imdjh]

3. Making energy more expensive isn't liberal or progressive. In fact, it's Exxonism.

[TheWraith]

4. Excuse me? Subsidizing the fossil fuel industry is the most progressive thing to do?

Hell, let's just double the amount of money we throw to big oil! Then we'll be even more progressive!

[joshcryer]

5. The fossil fuel industry has the biggest tax breaks and tax loopholes of them all.

While I might not mind $2.20 gas (here in Colorado, not average, closer to $2.40), I understand that it is only so cheap because of artificial price fixing, if they had to pay taxes like any other industry it wouldn't be so low.

[imdjh]

6. Taxing them more would just screw us more.

They don't raise the price a dollar for every dollar they pay in tax, they raise it more. But it would be US and not them that pays the tax. The biggest subsidy to gasoline regardless of where it is, as far as I know, is the US (and to some extent British) military being the world policeman. If the oil producing countries of the world, including those which claim to hate us, were to lose the protection of the US/British military all hell would break loose.