"Utterly Insane"....Says Elon Musk About The "Big, Beautiful Bill" Gutting All Clean Energy Incentives. And He Is Correct.

[leftwinger]

They are.
Even green energy companies can deduct their business expenses.

He’s OK with Amazon or APPL as Bezos parties with deep state and APPL has the LGBTQ quotient up to CEO homeO level in their CA business model. They spend a lot, which ends up a lot of tax write-off.

 

[Dr. Phosphorous]

What's the average life expectancy in countries that don't have reliable energy, right now?

What was the average in the US, 200 years ago?

Oh....so the MAGA simp is now trying to say that fossil fuel pollution doesn't reduce a person's lifespan.

You're brilliant, gomer.

 

[Toddsterpatriot]

Oh....so the MAGA simp is now trying to say that fossil fuel pollution doesn't reduce a person's lifespan.

You're brilliant, gomer.

Life expectancy in the US in 1860 was about 40 years.

Thank goodness they weren't dying because of fossil fuel pollution, eh?

******* retard.

 

[Dr. Phosphorous]

Life expectancy in the US in 1860 was about 40 years.

Modern medicine, simp. Different issue.

You really are a ******* dishonest idiot, aren't you? Of course you are.

 

[OhPleaseJustQuit]

Poor MAGA simp....making up your own reality again. Like the Nazi that you are.

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Poor left cultist, trolling your own thread.

Stay tuned, folks, there'll be more.





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[The Irish Ram]

Elon was raised by the WEF. I think he thought he was going to share the Presidency with Trump.

 

[leftwinger]

He’s OK with ANTIFA or BLM buring twenty million acres forest or city blocks during his riots. He’ll breath all that as he rolls up his Prius windows.

 

[OhPleaseJustQuit]

Carbon dioxide is NOT pollution - simp !
99.9% of life on this planet, the Flora, need it.

Get a brain, then get some real education.
You are a hazard to yourself and society.

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These are the morons who, when the warmistas started telling them how bad CO2 was, folks began signing petitions to remove the dreaded hydrogen dioxide!


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[Toddsterpatriot]

Modern medicine, simp. Different issue.

You really are a ******* dishonest idiot, aren't you? Of course you are.

Modern medicine needs cheap reliable energy.

Which third world shithole that burns dung for fuel has modern medicine?

Fucktard.

 

[OhPleaseJustQuit]

Since you want Republicans to keep focusing on more fossil fuel production, instead of cleaner energy.

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For at least three and a half years.

Choke on it.




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[Toddsterpatriot]

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These are the morons who, when the warmistas started telling them how bad CO2 was. folks began signing petitions to remove the dreaded hydrogen dioxide!


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Dihydrogen monoxide!

 

[Dr. Phosphorous]

Modern medicine needs cheap reliable energy.

Agreed. And they can get that from renewable clean energy too, simp.

Your made-up MAGA "reality" is not reality, Nazi.

 

[OhPleaseJustQuit]

I know that the unelected demigods on the high court declared CO2 a pollutant

But thats legal mumbo jumbo not science

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People who grow vegetables in hot houses have CO2 generators because plants LOVE it. Which equals GREEN.


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[Dr. Phosphorous]

They are.
Even green energy companies can deduct their business expenses.

These are tax breaks for oil companies, MAGA fucktard....not "business expenses". --

In its analysis of President Trump’s Fiscal Year 2017 Budget Proposal, the Joint Committee on Taxation (JCT) estimated that eliminating tax breaks for intangible drilling costs would generate $1.59 billion in revenue in 2017, or $13 billion in the next ten years.

Fact Sheet | Fossil Fuel Subsidies: A Closer Look at Tax Breaks and Societal Costs (2019) | White Papers | EESI

www.eesi.org

 

[OhPleaseJustQuit]

Dihydrogen monoxide!

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That too. Say a word that sounds all science-ey to them and they soil their undies.


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[Toddsterpatriot]

Agreed. And they can get that from renewable clean energy too, simp.

Your made-up MAGA "reality" is not reality, Nazi.

When your power fails at night, it's difficult to keep your fancy medicine refrigerated.

No new cures from shithole countries that don't use oil?

 

[Toddsterpatriot]

These are tax breaks for oil companies, MAGA fucktard....not "business expenses". --

In its analysis of President Trump’s Fiscal Year 2017 Budget Proposal, the Joint Committee on Taxation (JCT) estimated that eliminating tax breaks for intangible drilling costs would generate $1.59 billion in revenue in 2017, or $13 billion in the next ten years.

Fact Sheet | Fossil Fuel Subsidies: A Closer Look at Tax Breaks and Societal Costs (2019) | White Papers | EESI

www.eesi.org

Thanks for the link.

Direct Subsidies​

Intangible Drilling Costs Deduction (26 U.S. Code § 263. Active). This provision allows companies to deduct a majority of the costs incurred from drilling new wells domestically. In its analysis of President Trump’s Fiscal Year 2017 Budget Proposal, the Joint Committee on Taxation (JCT) estimated that eliminating tax breaks for intangible drilling costs would generate $1.59 billion in revenue in 2017, or $13 billion in the next ten years.


Drilling costs. That's a business expense.


Percentage Depletion (26 U.S. Code § 613. Active). Depletion is an accounting method that works much like depreciation, allowing businesses to deduct a certain amount from their taxable income as a reflection of declining production from a reserve over time. However, with standard cost depletion, if a firm were to extract 10 percent of recoverable oil from a property, the depletion expense would be ten percent of capital costs. In contrast, percentage depletion allows firms to deduct a set percentage from their taxable income. Because percentage depletion is not based on capital costs, total deductions can exceed capital costs. This provision is limited to independent producers and royalty owners. In its analysis of the President’s Fiscal Year 2017 Budget Proposal, the JCT estimated that eliminating percentage depletion for coal, oil and natural gas would generate $12.9 billion in the next ten years.


Most natural resources qualify for this. For lithium, the rate is 22%.


Credit for Clean Coal Investment Internal Revenue Code § 48A (Active) and 48B (Inactive). These subsidies create a series of tax credits for energy investments, particularly for coal. In 2005, Congress authorized $1.5 billion in credits for integrated gasification combined cycle properties, with $800 million of this amount reserved specifically for coal projects. In 2008, additional incentives for carbon sequestration were added to IRC § 48B and 48A. These included 30 percent investment credits, which were made available for gasification projects that sequester 75 percent of carbon emissions, as well as advanced coal projects that sequester 65 percent of carbon emissions. Eliminating credits for investment in these projects would save $1 billion between 2017 and 2026.


Nonconventional Fuels Tax Credit (Internal Revenue Code § 45. Inactive). Sunsetted in 2014, this tax credit was created by the Crude Oil Windfall Profit Tax Act of 1980 to promote domestic energy production and reduce dependence on foreign oil. Although amendments to the act limited the list of qualifying fuel sources, this credit provided $12.2 billion to the coal industry from 2002-2010.


Kill them both, please.

Indirect Subsidies​

Last In, First Out Accounting (26 U.S. Code § 472. Active). The Last In, First Out accounting method (LIFO) allows oil and gas companies to sell the fuel most recently added to their reserves first, as opposed to selling older reserves first under the traditional First In, First Out (FIFO) method. This allows the most expensive reserves to be sold first, reducing the value of their inventory for taxation purposes.


Foreign Tax Credit (26 U.S. Code § 901. Active). Typically, when firms operating in foreign countries pay royalties abroad they can deduct these expenses from their taxable income. Instead of claiming royalty payments as deductions, oil and gas companies are able to treat them as fully deductible foreign income tax. In 2016, the JCT estimated that closing this loophole for all American businesses operating in countries that do not tax corporate income would generate $12.7 billion in tax revenue over the course of the following decade.


All businesses can use these.


Master Limited Partnerships (Internal Revenue Code § 7704. Indirect. Active). Many oil and gas companies are structured as Master Limited Partnerships (MLPs). This structure combines the investment advantages of publicly traded corporations with the tax benefits of partnerships. While shareholders still pay personal income tax, the MLP itself is exempt from corporate income taxes. More than three-quarters of MLPs are fossil fuel companies. This provision is not available to renewable energy companies.


Not limited to oil and gas.


Domestic Manufacturing Deduction (IRC §199. Indirect. Inactive). Put in place in 2004, this subsidy supported a range of companies by decreasing their effective corporate tax rate. While this deduction was available to domestic manufacturers, it nevertheless benefitted fossil fuel companies by allowing “oil producers to claim a tax break intended for U.S. manufacturers to prevent job outsourcing”. The Office of Management and Budget estimated that repealing this deduction for coal and other hard mineral fossil fuels would have saved $173 million between 2012 and 2016. This subsidy was repealed by the Tax Cuts and Jobs Act (P.L. 115 – 97) starting fiscal year 2018.


DURR


Also, not limited to oil and gas.

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[LordBrownTrout]

It pains me to say this, but Elon Musk is 100% correct. This bill is a ******* disaster for the environment, our economy, and for our country.

Trump and the Republican Party are literally destroying this country.

This is one of the biggest reasons Senator Thom Tillis (R-NC) is going to vote against the bill -- it kills good-paying, green energy manufacturing jobs in North Carolina and throughout the country.

Trump wants to bring back 1970s factories from China with his stupid ******* tariffs making cheap ass shirts, shorts, toys, pots, and pans.

But good paying, high tech green energy factory jobs? Nah.....just give all those good green energy manufacturing jobs to China!!

Total insanity.


From the Washington Post. --

Congressional Republicans are poised to reverse course on U.S. energy policy by wiping out hundreds of billions of dollars in incentives for solar and wind projects as well as for consumers seeking to purchase everything from energy-saving appliances to electric cars.

The Senate’s tax bill, which cleared a key procedural hurdle Saturday, contains strict green energy cutbacks that disappointed lobbyists for solar, wind and battery companies, who hoped senators would temper some of the House’s most draconian cuts. It also imposes a new tax on existing wind and solar farms if they include materials from a foreign entity like China — a huge blow for the renewables industry, which incorporates many materials from China across its supply chain.

“They’re proposing an outright massacre with punishing new taxes on these industries,” Sen. Ron Wyden (D-Oregon) wrote in a statement on Saturday. He said Republicans added what amounts to a “death sentence” for green energy, with provisions added “in the middle of the night” Friday before voting started in the Senate.

The bill, which still must be passed by both the Senate and the House, would fulfill a major campaign pledge of President Donald Trump, who favors coal mining and oil drilling and has railed against federal green energy spending. With the reversal, executives and climate experts are expecting a sharp retreat in U.S. manufacturing and continued Chinese domination of the industry.

“The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!” Tesla founder Elon Musk posted on X on Saturday, extending his split with the administration he served as leader of the U.S. DOGE Service. “Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future.”

The new bill also eliminates consumer subsidies for rooftop solar, electric vehicles, heat pumps and other energy-efficient technologies. Homeowners will have just a few months (for electric vehicles) or until the end of the year (for heat pumps and rooftop solar) to take advantage of the credits before they expire.

https://www.washingtonpost.com/climate-environment/2025/06/28/solar-green-energy-tax-bill-trump/

Total insanity is continuing in with green energy which is exponentially worse for the environment. Good riddance. Gut them all.

 

[Dr. Phosphorous]

Total insanity is continuing in with green energy which is exponentially worse for the environment. Good riddance. Gut them all.

Yeah....green energy is worse for the environment than massive car pollution and power plant pollution.

Green energy is worse for the environment than giant oil disasters like Deepwater Horizon and Exxon Valdez.

What a hopeless MAGA simp.

 

[leftwinger]

Ger

Yeah....green energy is worse for the environment than massive car pollution and power plant pollution.

Green energy is worse for the environment than giant oil disasters like Deepwater Horizon and Exxon Valdez.

What a hopeless MAGA simp.

Germany tried and it failed. Why can’t you people learn from actual experiments. Now they have to rebuild Nat Gas, nuclear and coal from decades mothballs. Costly.

Then to dispose of all the toxic greenhardware…..into the ground we go. When EV cars work like regular cars…..they will sell.

No one wants to spend twelve hours at a CA rest stop (with God knows who all around) in line for 25% charge in winter to get your kids home. Bad enough to stop for gas at random shooting galleries.