[your local physicist]

What subsidies are you talking about? There has been a depletion allowance for oil producers, which if I recall correctly, exempts about 15% of their oil production from federal taxes. The depletion allowance is an unjustifiable tax break for oil that gives it a cost advantage over other energy sources and it wouldn’t bother me if congress ended the depletion allowance. But other than that, I can’t think of any “massive subisdies” for oil. So what else are you talking about?

[aShepard]

....................... The depletion allowance is an unjustifiable tax break for oil that gives it a cost advantage over other energy sources..................

The depletion allowance allows the companies to write off, tax free, the huge lease cost that the oil companies had to pay the US government for the company to explore for oil.

In many cases the depletion allowance benefit is applicable decades after the oil company paid - cash - for the ability to look for oil.

[larry hagedon]

your local physicist posted; "What subsidies are you talking about? ... I can’t think of any “massive subisdies” for oil. So what else are you talking about?" I hate to tell you this Mr Anonymous, but your ignorance is mighty irrelevant to me.

[larry hagedon]

Ok, Physicist, I googled up this one, connected with the original article. Yes, it has got climate change crap in it, but it has the numbers you want too.

http://www.eli.org/pressdetail.cfm?ID=205

[larry hagedon]

actually this web site has several pages of subsidy info;

http://www.eli.org/

http://www.eli.org/pressdetail.cfm?ID=205

http://www.eli.org/pdf/Energy_Subsidies_Black_Not_Green.pdf