28 Jul '14, 6pm

Subsidy Spotlight: Paid to Pollute and Poison

A second subsidy responsible for increased offshore drilling is not only employed in case of an accident, but rather is a regular part of the oil business. Drilling expenditures, which result in billions of oil industry costs annually, are handled by current tax law in such a way to give a break to oil companies in order to recover these costs quickly. Intangible drilling costs include wages, fuel, and repairs and in 2013 the federal government provided about $3.5 billion in support through intangible drilling cost recovery.

Full article: http://www.desmogblog.com/2014/07/28/subsidy-spotlight-pa...

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Subsidy Spotlight: Paid to Pollute and Poison

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