Why the Obama administration’s $7.5 billion fossil fuel tax credit may be dead and buried
President Obama is expected to announce that the administration’s new fossil fuel excise tax credit will be replaced with a new “fossal fuel tax.”
But that doesn’t mean that fossil fuel businesses will start getting paid off for their investments.
The fossil fuel industry has made it clear that it doesn’t want to be a part of the tax credit, which would help keep coal, oil, and gas in the ground and help keep the economy humming.
The fossil fuel lobby has been lobbying against the carbon tax for years, saying it would make it harder to make the case for fossil fuels.
“There’s no reason why we can’t continue to use these technologies for economic growth and growth of our nation,” Exxon Mobil CEO Rex Tillerson told Bloomberg TV in April.
But the fossil fuel industries are worried that the tax will make it more difficult for them to make that case.
For years, the fossil fuels industry has argued that the carbon credit is an unnecessary tax, because it would only encourage investments in renewable energy sources.
Exxon Mobil said the tax was needed to help companies that are investing in renewable sources, including wind, solar, and geothermal.
But in February, President Obama announced that the fossil tax credit would be replaced by a new one called the “fostered fossil fuel credit.”
The Obama administration estimates that the new credit will generate $7 billion in new tax revenue, which it will then be given back to businesses that are using those tax credits to reduce emissions of carbon dioxide and other greenhouse gases.
With the fossil energy tax credit now dead, the coal, coal mining, and oil and gas industries are now likely to be among the last to see their investments make a comeback.
According to a Bloomberg report, coal, mining, oil and natural gas companies have already been told that they will be given “up to $3 billion” in tax credits that they have spent on investments in renewables, even if they haven’t yet made their investments profitable.
At least five companies have announced that they are considering selling their investments in fossil fuel companies, including Marathon Oil, Sunoco Logistics, ConocoPhillips, and BP.
And the fossil industry has a vested interest in the outcome of this election.
Since 2016, the U.S. has been experiencing a severe recession and a spike in the number of Americans who are unemployed.
The number of people who are jobless has increased by 7.5 million since January 2018, according to the Bureau of Labor Statistics.
In response to the downturn, coal and mining companies have been pushing for a carbon tax.
They have pushed the administration to increase taxes on coal and oil companies and on natural gas and nuclear plants.
The coal and coal mining industries have also lobbied for the fossil excise tax.
It has been estimated that the industry has saved the U,S.
more than $400 billion over the past four years.
So far, the administration hasn’t given the fossil gas industry a reason to go ahead and get out of the carbon trading scheme.
Instead, the Obama White House has been pushing to keep the tax in place until 2021.
But now that it looks like the fossil-fuel industry will get a tax credit to offset the impact of the climate crisis, it’s likely that the White House will try to make up for lost investment by lowering the price of fossil fuels in the markets.