re: Chyna Joe another nail in the oil industry

Joe is doing chyna's bidding.

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China's Xi calls for greater role for G20 in economic governance. Xi’s speech came just five days after Joe Biden was sworn in as U.S. president.

https://www.reuters.com/article/us-davos-meeting-xi-jinping/chinas-xi-calls-for-greater-role-for-g20-in-global-economic-governance-idUSKBN29U1BM?il=0

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Right, that EVERY BUSINESS IN THE U.S.A. can participate in.

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The "subsidies" are often deductions related to depreciating the value of the useful remaining production value of wells.

It would be similar to businesses who write off the value of cars or computers that devalue over time.

There used to be some oil and gas credits - like the "tight sands" credit which helped incentivize recovering oil from difficult formations. That's been gone for some time I think.

Solar and wind are subsidized something like 5,000 times the rate of oil and gas, when measured in $/BTU.

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Pennsylvania just became the reddest state in the country.

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It was Red on November 3rd. Vote manipulation turned it blue. 2022 is not going to be kind to Democrats.

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My understanding is he is going after things like MLPs (now wanting to tax the entity and then also the investor's income); depletion allowances, allowances for intangible drilling costs, etc.

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Back when America still followed the Constitution, he'd need to work with Congress to change those policies. And Congress used to not like to forfeit these powers to the Executive Branch, but have increasingly done so, making our Constitution moot.

"depletion allowances" are legitimate and proper, since they reflect the decreasing value of the initial investment in buying or leasing land with reserves. There's literally nothing wrong with that - it reflects an economic reality.

Geez. Double taxation of partnerships would also seem to require Congressional action... at least back when the President could not write law.

But frick, the Executive Branch now can extend the lowering of the statutory rates on student loans to 0%, costing taxpayers, without getting Congressional approval. I'd have to dig through the legislation to see if this was yet another Congressional power they abdicated to the Executive Branch in the Muh COVID Relief Bill.

There's a legal concept of what powers can be legally delegated to another branch, but I'm not sure where that fits in here.

The way Biden and the Democrats work I have a prediction that they will come up with some explanation that buying energy from China is great for the US economy and jobs. China who does not produce energy will resell energy from Russia, Canada, and Iran to the US under the democrats.

If China owned the Canadian oil the democrats would be calling from more pipelines from Canada instead of cancelling Keystone. Was Keystone opposed by Democrats because China wanted that oil?

Wait for it because as ridiculous as this seems it fits right in with the China Democrats.

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No shite!

We love wars for oil!

We love the RINOs in the deep state pockets of Energy and the MIC!

We love destroying the environment!

WTH is Biden doing?!?

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Clap you stupid bastards!**

the cabal got scared and instead of destroying the country in 4-8 years they gonna do it in 2 months ...sad thing is nobody will do anything about it

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Biden's focus on climate change has cheered international partners and environmental advocates,

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Well no shite, they’re cheering on the destruction of the US.

The elimination of the IRS 179 deduction for vehicles over 6k pounds is included in this which means he just really screwed farmers, businesses, and car manufacturers.