Will we have fully electric cars/grids in your lifetime?

aksarben77

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Again, you don't support your side with any data. The subsidies for oil are a fraction of green energy. The electric car is powered by coal. The pipelines were built by oil companies. The drilling, by oil companies. There is no government gas stations. There are no government oil rigs or companies.
Laugh all you want. It shows your ignorance
 

biscuitbagger3

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Again, you don't support your side with any data. The subsidies for oil are a fraction of green energy. The electric car is powered by coal. The pipelines were built by oil companies. The drilling, by oil companies. There is no government gas stations. There are no government oil rigs or companies.
The data you presented has two major problems.
First, half of the “green energy” subsidy was for biofuels not exactly what people mean by green. Second, it doesn’t seem to include the biggest subsidy of all to oil companies…the fact that drilling costs are 100% tax deductible.
 
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aksarben77

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The data you presented has two major problems.
First, half of the “green energy” subsidy was for biofuels not exactly what people mean by green. Second, it doesn’t seem to include the biggest subsidy of all to oil companies…the fact that drilling costs are 100% tax deductible.
Just one example: Soylyndra. that was a solar panel company. Which is not a bio fuel. Thanks again.
 

burntorange72

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You're the one who, apparently bewildered, asked:


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Like most engineered system, natural gas can work in a variety of conditions, when designed for such conditions. The Texas applications were not designed for such conditions.
Actual this is correct. Some of the equipment on the gas wells froze up. As a result the wells were not producing or not producing a full capacity. Bottom line a lot of the Texas power grid was not built with any expectation it would be required to preform in the frigid conditions that hit Texas in 2020. This effected both green power and the oil and gas industry, as well as substations and transmission lines. Much like the drought is effecting hydro electric system in California now. It is unfortunate Abbot wanted to point a finger at wind and solar when it was a complete break down of all systems including the management team and the politicians.
 
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burntorange72

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The data you presented has two major problems.
First, half of the “green energy” subsidy was for biofuels not exactly what people mean by green. Second, it doesn’t seem to include the biggest subsidy of all to oil companies…the fact that drilling costs are 100% tax deductible.
In the year the well is drilled? I don’t think Exxon deducts drilling cost in the year the well was drilled. Is the cost to drill the well tax deductible? Of course. An oil well is like a manufacturing facility or factory. If you build a factory you deduct the cost of the factory. There is a difference however. And there is a reason for the difference. But you tell me what the difference is. There is a whole lot of righteousness on the RSS on this topic by a lot of people with a little information but no understanding. They post an article by some journalists while a point of view they wish to justify but have no background on the topic.
 
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biscuitbagger3

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In the year the well is drilled? I don’t think Exxon deducts drilling cost in the year the well was drilled. Is the cost to drill the well tax deductible? Of course. An oil well is like a manufacturing facility or factory. If you build a factory you deduct the cost of the factory. There is a difference however. And there is a reason for the difference. But you tell me what the difference is. There is a whole lot of righteousness on the RSS on this topic by a lot of people with a little information but no understanding. They post an article by some journalists while a point of view they wish to justify but have no background on the topic.
Yes the year the costs are incurred unlike building a factory. There are 2 major differences, the first is that it’s not a normal capital asset that allows for its costs to be amortized over a deprecation schedule. It’s a strait deduction that year. The second major difference is it does not have to have any possibility of a return, ie you can just deduct the cost of speculation on demand. Those deductions can also be used by individuals against capital gains or income.
 
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nelsonj22

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There is a whole lot of righteousness on the RSS on this topic by a lot of people with a little information but no understanding. They post an article by some journalists while a point of view they wish to justify but have no background on the topic
This is basically all of us lowlifes on the Opens
 
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burntorange72

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Yes the year the costs are incurred unlike building a factory. There are 2 major differences, the first is that it’s not a normal capital asset that allows for its costs to be amortized over a deprecation schedule. It’s a strait deduction that year. The second major difference is it does not have to have any possibility of a return, ie you can just deduct the cost of speculation on demand. Those deductions can also be used by individuals against capital gains or income.
You got it mostly right. I apologize for being so hard on you.The oil business was a little different in that once you find oil or gas you didn’t know how big the discovery was or how long the production would last. Thus you did not know over what period of time to amortize your discovery. The companies lobbied hard and got the IRS to accept what at the time seemed to be reasonable, or at least more reasonable, accounting rules. Today with our understanding of petroleum geology and modern engineering and fracking these older accounting rules seem unfair to the point of being ridiculous. And there is some truth in this but, from the industries point of view these account practices are appropriate and necessary. When most any asset I can think, at the end of its useful life, like a factory, or an office building or a vechicle, there is still salvage value to be recovered. When an oil well completes production, all that’s left is a hole in the ground that has no salvage value. And still has the added expense of needing to be properly plugged and abandoned.
 
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burntorange72

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Yes the year the costs are incurred unlike building a factory. There are 2 major differences, the first is that it’s not a normal capital asset that allows for its costs to be amortized over a deprecation schedule. It’s a strait deduction that year. The second major difference is it does not have to have any possibility of a return, ie you can just deduct the cost of speculation on demand. Those deductions can also be used by individuals against capital gains or income.
If you accept that a well is like a factory, where you produce oil instead of widgets, then of cost like a factory your wages and shop rags are expense items and are taken in the tax year they are used. With this in mind look at the other intangible drilling costs from the point of view of a factory. From that perspective they aren’t quite so outrageous, particularly if you understand these were accepted in the early years of both the industry and the IRS.
certaianly you can make the counter argument that a lot of these intangibles should be capitalized. And even then there is an advantage to being able to write them off in 7 years vs the life of most wells these days.
Possibly you can explain to me how writing these expenses off in the first year is a huge advantage. If you are consistently drilling about the same number of wells, and capitalizing the cost in year7 you would be back at the same spot tax wise.
 

sklarbodds

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Holy shit you are dumb AF!
That’s exactly what I said. It was built cheaply not to meet all possible environmental conditions, even rare or improbable.
The fossil fuel gas didn’t fail like wind or sunlight would do under rare or extreme conditions.

What I said these power grids will need redundancy to pick up for the failed renewable energy so it will only drive up the cost. I can guarantee you they will under build like they did in Texas and did in California.
But you still don't think turbines can be used in the cold lol.

Antarctica (average temp of ZERO) uses them and if they fail people literally die. Like the definition of extreme weather.

To quote that crazy Nelson guy:
D E R P
 
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sklarbodds

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Actual this is correct. Some of the equipment on the gas wells froze up. As a result the wells were not producing or not producing a full capacity. Bottom line a lot of the Texas power grid was not built with any expectation it would be required to preform in the frigid conditions that hit Texas in 2020. This effected both green power and the oil and gas industry, as well as substations and transmission lines. Much like the drought is effecting hydro electric system in California now. It is unfortunate Abbot wanted to point a finger at wind and solar when it was a complete break down of all systems including the management team and the politicians.
Accurate AF

Glad to see someone on the right gets it instead of saying dumb sh*t like "renewables don't work in extreme weather".

The reality is almost any power source works in extreme weather if it's built right, but it just requires a little extra investment (10% in wind).
 
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lolwat

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I'm disappoint so late to thread.

Ultimately I believe homes are going to need to start building with energy generating features in mind. Tesla's solar roof, if out in the country a small windmill, and something like a tesla power wall to store it...something like that. The goal being that it generates at least 50% of the energy it needs to function. Ideally 95%+ where most of the time it just sells back to the grid for others that come up short.

Office buildings, strip malls, etc. The rub is the initial cost today. If that comes down the incentive will be there and if so I think it takes off. Nobody likes power outages in a storm, nobody likes the $$$ electric bills when its 107 degrees.
 

sklarbodds

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Ultimately I believe homes are going to need to start building with energy generating features in mind. Tesla's solar roof, if out in the country a small windmill, and something like a tesla power wall to store it...something like that. The goal being that it generates at least 50% of the energy it needs to function. Ideally 95%+ where most of the time it just sells back to the grid for others that come up short.
You want to talk about Energy independence and an indestructible grid, there it is.

We could tell the middle east to pound sand...
 
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biscuitbagger3

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If you accept that a well is like a factory, where you produce oil instead of widgets, then of cost like a factory your wages and shop rags are expense items and are taken in the tax year they are used. With this in mind look at the other intangible drilling costs from the point of view of a factory. From that perspective they aren’t quite so outrageous, particularly if you understand these were accepted in the early years of both the industry and the IRS.
certaianly you can make the counter argument that a lot of these intangibles should be capitalized. And even then there is an advantage to being able to write them off in 7 years vs the life of most wells these days.
Possibly you can explain to me how writing these expenses off in the first year is a huge advantage. If you are consistently drilling about the same number of wells, and capitalizing the cost in year7 you would be back at the same spot tax wise.
The big distinction is those business expenses are deducted from the income they produce. If the well produces oil then yes it’s similar. However you can deduct those expenses from other sources of income, meaning if the well is dry you still get a tax break. It’s subsidized speculation.
 

burntorange72

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The big distinction is those business expenses are deducted from the income they produce. If the well produces oil then yes it’s similar. However you can deduct those expenses from other sources of income, meaning if the well is dry you still get a tax break. It’s subsidized speculation.
You buy a business or start a business and it goes bankrupt, you get to take that loss against other income. I had a friend who had a start up business that was destroyed in a fire. As a start up he had not insured it. He was able to take that loss against other income.
 

burntorange72

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00
I'm disappoint so late to thread.

Ultimately I believe homes are going to need to start building with energy generating features in mind. Tesla's solar roof, if out in the country a small windmill, and something like a tesla power wall to store it...something like that. The goal being that it generates at least 50% of the energy it needs to function. Ideally 95%+ where most of the time it just sells back to the grid for others that come up short.

Office buildings, strip malls, etc. The rub is the initial cost today. If that comes down the incentive will be there and if so I think it takes off. Nobody likes power outages in a storm, nobody likes the $$$ electric bills when its 107 degrees.
i have to say I have gone back and forth as I have followed the discussion on renewables on RSS. Some folks on the scrolls are Hugh proponents of renewable and believe we will all be driving electric vehicles and powering our houses in what 10-15 years. My bias is until the liberal leaning folks on both coasts are willing to accept wind and solar on their roofs and on their place of business it’s not going to happen. There is just too much infrastructure to.build out. So until we have something around 50% of our personal power useage generated at the point of use ie solar panels on our roof and place of business or personal wind turbines in our back yard it’s going to be a generation before we are using renewables exclusively or nearly exclusively. I just don’t see the feasibility of building enough wind farms and solar panels farms in enough places with the necessary transmission lines to supply all the needs of the country without many people doing a little bit to help out by supplying some of their own power. JMO
 

lolwat

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You want to talk about Energy independence and an indestructible grid, there it is.

We could tell the middle east to pound sand...

Inside the house I'd also toss in there, that there has got to be an opportunity for low voltage PoE type setups I would think. Don't need a licensed electrician to run those particular wires, so you can add/remove as you wish. Cat5/6 etc is a lot cheaper than romex. Lighting, smoke detectors, cameras, all exist today but not sure there is something that brings it all together for people to make it easy for residential.
 

nelsonj22

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Inside the house I'd also toss in there, that there has got to be an opportunity for low voltage PoE type setups I would think. Don't need a licensed electrician to run those particular wires, so you can add/remove as you wish. Cat5/6 etc is a lot cheaper than romex. Lighting, smoke detectors, cameras, all exist today but not sure there is something that brings it all together for people to make it easy for residential.
Very small loads you could, anything with a decent electrical load would require HEAVY wiring @low voltage.
 

biscuitbagger3

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You buy a business or start a business and it goes bankrupt, you get to take that loss against other income. I had a friend who had a start up business that was destroyed in a fire. As a start up he had not insured it. He was able to take that loss against other income.
Because he had personal liability against an NOL is my guess. It wouldn't be a distinct section of the code with its own rules if it was just the standard business deduction.