So, do you think Cruz should be admonished for not speaking out against Oil and Gas subsidies in the same way Trump has been attacked regarding the Ethanol subsidies?
From Wikipedia article Energy Subsidies:A 2009 study by the Environmental Law Institute[30] assessed the size and structure of U.S. energy subsidies in 2002-08. The study estimated that subsidies to fossil fuel-based sources totaled about $72 billion over this period and subsidies to renewable fuel sources totaled $29 billion. The study did not assess subsidies supporting nuclear energy.
The three largest fossil fuel subsidies were:
- Foreign tax credit ($15.3 billion)
- Credit for production of non-conventional fuels ($14.1 billion)
- Oil and Gas exploration and development expensing ($7.1 billion)
The three largest renewable fuel subsidies were:
- Alcohol Credit for Fuel Excise Tax ($11.6 billion)
- Renewable Electricity Production Credit ($5.2 billion)
- Corn-Based Ethanol ($5.0 billion)
First, a tax credit is not the same thing as a subsidy. I’m all for people paying as little in taxes as possible. The money just goes to feed the bloated bureaucracy and impoverishes all of us.
Second, end all subsidies. There is nothing in the Constitution about taking money from one to give to another. It’s legalized theft, and unfortunately, people and business leaders want their place at the trough.