Part 2 of my review of energy subsidies and the Romney campaign is a bit long for a blog posting. Thus, it has been uploaded as a PDF instead, and can be accessed here. Issues covered include conflicts between the private equity world view and good national policy; how appropriate adjustments to Romney's subsidy baseline alter the conclusions he drew from the figures, and a discussion of missing subsidies in a number of key areas: tax-exempt oil and gas master limited partnership
Many organizations and key members of government believe that US energy markets need to embark on an accelerated transition off of oil. Some focus on diversification away from oil imports in order to stop funding countries that don't like us much. Others focus on climate change worries, working to transition from all fossil fuels. Both groups push for bold, new, and often very expensive plans to alter the nation's energy path. Usually, these plans call for large new government agencies, along with mandates, to implement the changes.
Extremely detailed, widely peer-reviewed, examination of subsidies to oil in the United States throughout every stage of the fuel cycle. Includes plain-language explanations of how different types of subsidy programs operate and why the are valuable to the recipient industries. This is useful background for subsidy policies even outside of the energy arena. The report includes evaluations of tax policies, direct government programs, loan subsidies, leasing arrangements, and post-closure and accident liabilities.