Posted on 12/17/2015 6:52:56 AM PST by Sean_Anthony
Score one for the new Speaker
The new budget deal heading for President Obama’s desk has a lot that’s awful in it, including extensions of lots of taxes and subsidies that are supposedly temporary but are never allowed to lapse. There’s no defending any of this as policy, and many will say this proves Paul Ryan is just another RINO squish like John Boehner.
I’m a glass-half-full guy. All that would have been the default stance of any other Congress, and certainly of Obama. Ryan, to his credit, at least exacted a price for keeping these things alive the next couple of years. And a very big price it was - and highly beneficial to the U.S. economy. After more than 40 years of holding back economic growth and vitality in the oil industry, the ban on oil exports appears headed for the ashbin of history:
Congress strikes deal to extend wind, solar tax credits and lift oil export ban
http://www.utilitydive.com/news/congress-strikes-deal-to-extend-wind-solar-tax-credits-and-lift-oil-export/410947/
House Republicans unveiled a broad spending and tax legislation package on Tuesday night that includes multi-year extensions for federal tax incentives for wind and solar generation facilities. The tax extenders legislation would also lift the 40-year-old ban on crude oil exports from the U.S.
Extensions for wind energy’s $0.023/kWh production tax credit (PTC) and solar energy’s 30% federal investment tax credit (ITC) were pushed by Congressional Democrats in exchange for lifting the ban on crude exports, a policy change long sought by Republicans and the oil and gas sector.
Under the tentative deal, the wind PTC would be extended through 2020 and would decline in value each year after December 2016 until it is phased out entirely. The solar ITC would be drawn down gradually through 2022.
“One Swallow does not a summer make”.
Payoff to the oil industry. Special interests rule.
Payoff to the oil industry. Special interests rule.
The ban is nearly meaningless at the current price. Overseas markets are awash in cheap oil.
Watch for oil prices to increase if a profit can be made thru exports. Maybe we should join OPEC and set export limits.
The ban was a special interest rule.
Now they will be treated like other industries.
The ban was meant to control a strategic commodity. It is why we have the SPR. Of course, at the time, we imported almost 50% of our oil.
The real question is how economically viable it will be given the current glut of oil. OPEC has in the past increased production to put US domestic oil production out of business.
The ban was part of the nonsense of price controls and other government overreach.
It is why we have the SPR.
The SPR is a governmental function, national security. The export ban pushes investment and jobs overseas.
The real question is how economically viable it will be given the current glut of oil.
The confusion in that statement is regarding all oil as the same. The Gulf Coast has an abundance of expensive light sweet and many refineries optimized for cheaper heavy sour. Exporting the surplus expensive oil and importing the cheaper oil makes a lot of sense, lower US prices, higher US profits and more US jobs.
Exporting the surplus expensive oil and importing the cheaper oil makes a lot of sense, lower US prices, higher US profits and more US jobs.
More crapola meant to defend the indefensible. The Reps helped Clinton pass NAFTA using the same kinds of language. How did that turn out?
Conservative fiscal principles do not include telling private business and private owners who they are allowed to sell their products to.
I agree there was sellouts by the conservatives, but this wasn't an example of them. The extension of the wind and solar subsidies were.
Could a price war develop because of this ?
LOL. So we should take off all controls over selling defense technology to whatever country will buy it? So conservative principles do not agree with placing sanctions on countries like NK, Iran, Cuba, etc. banning sales of goods to them? When do national strategic interests trump the "rights" of private businesses? Should we allow businesses to decide how many foreign workers they import? Why have any controls over H-1B and H-2B visas?
I agree there was sellouts by the conservatives, but this wasn't an example of them. The extension of the wind and solar subsidies were.
Sorry, but you can't pick and choose what is and is not a sellout. The Omnibus bill must be viewed as a whole. Overall, it is an unmitigated disaster and it will pass with the help of the Dems. The Uniparty rules.
We will see the OPEC and Russian response. I guess you could cut production to raise the price of oil, at least short term. Oil is a global commodity. Flooding it with more supply will affect its price, i.e., drive it down.
Defense technology is not commodities sold by dozens of countries across the world.
Apples and oranges.
BS! Every action and line item is not an automatic sellout.
Less government interference and regulations for private business is a conservative value. Smaller government, not more government.
Of course it is. SIPRI has identified 60 countries as exporters of major weapons in 2010–14. And what exactly do numbers have to do with us preventing private companies from selling arms and technology to foreign countries?
Apples and oranges.
Where do "conservative principles" come into play? Who decides what controls should be placed on private businesses and who they can sell their products to? We have laws governing the sale of tobacco and alcohol. We have laws on the sale of pornography. You sound more like a libertarian than a conservative.
The Omnibus bill is a sellout. There are no real victories for conservatives in the bill. It is just rationalization for its supporters who are controlled by special interests.
Less government interference and regulations for private business is a conservative value. Smaller government, not more government.
Crony capitalism is not. The government at all levels controls over 40% of our GDP and the percentage is increasing. Lifting the ban on the sale of domestic oil is just another form of regulation. I can assure you that the legislation lifting the ban contains all kinds of limits and restrictions. It is tightly circumscribed and controlled by the government, probably to the benefit of a few special interests.
We are going to have to disagree.
God Bless
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