The American Petroleum Institute will announce a new TV ad campaign today attempting to protect fossil fuel tax breaks from fiscal policy negotiations. Their arguments on production and jobs are familiar, and familiarly bogus. [The Hill]
The group, which is the oil-and-gas industry’s largest trade association, will announce a new TV ad campaign.
The White House and many Democrats have for years been pushing to strip the petroleum industry’s ability to claim several tax deductions, calling them a multibillion-dollar taxpayer handout to an industry that doesn’t need it.
But industry officials and their allies have beaten back the efforts thus far. They say that higher taxes on energy producers would slow what has been booming oil-and-gas production, harm job creation and unfairly single out their industry.
Rep. Ryan’s new budget doubles down on the exact same policies helping corporate special interests like Big Oil at the expense of seniors, the middle class, and the most vulnerable that he and Mitt Romney ran on and lost on in 2012. [Politico]
Coming on the heels of a new carbon tax proposal, a group of House Democrats have announced a series of floor speeches to call on Congress for a response to climate change. [The Hill]
President Obama said Tuesday that drought fueled by climate change creates problems for barges bringing goods out of the Midwest down the Mississippi. [The Hill]
Flammable ice: Japan is the first nation to successfully extract natural gas from frozen methane hydrate deposits on the seabed, which remains an expensive procedure. [The Guardian]
The European Union is set to partially suspend its controversial airlines emissions tax scheme, stopping the clock until the International Civil Aviation Organization meets in September. [IOL]
Mayor Michael Bloomberg, chairman of the C40 Cities Climate Leadership Group, announced plans for the fifth biennial C40 Cities Mayors Summit discuss ways to fight global climate change. [CBS/AP]
Australia’s solar market may hit 10,000 megawatts as early as 2017, reaching “saturation” levels for owner-occupied houses in many areas. [Renew Economy]
A group of scientists and energy analysts has laid out a plan by which New York State could, in theory, eliminate its use of fossil fuels and nuclear power by 2050. [NYTimes]