{"id":949,"date":"2010-02-04T17:36:51","date_gmt":"2010-02-04T22:36:51","guid":{"rendered":"https:\/\/www.pbs.org\/wnet\/blueprintamerica\/?p=949"},"modified":"2010-02-04T17:36:51","modified_gmt":"2010-02-04T22:36:51","slug":"headlines-white-house-goes-after-oil-and-gas-subsidies-again","status":"publish","type":"post","link":"https:\/\/www.pbs.org\/wnet\/blueprintamerica\/headlines\/headlines-white-house-goes-after-oil-and-gas-subsidies-again\/949\/","title":{"rendered":"White House Goes After Oil And Gas Subsidies&#8211;Again"},"content":{"rendered":"<p><a href=\"http:\/\/www.tnr.com\/blog\/the-vine\/white-house-goes-after-oil-and-gas-subsidies\" target=\"_blank\"><strong>The New Republic<\/strong><\/a> &#8212; There&#8217;s plenty of thrilling budget news today, what with the president&#8217;s proposal for the 2011 fiscal year now up on the OMB site. On energy matters, the big eye-catcher is the fact that White House wants to scrap some $36.5 billion in tax breaks for fossil-fuel producers over the next decade:<\/p>\n<p>For the petroleum industry, the cuts primarily come from repealing companies&#8217; ability to write down depletion of wells and intangible drilling costs such as renting rigs and axing the domestic manufacturing tax deduction. The administration also increased the amortization period for independent producers for some exploration costs, costing the industry $1.1 billion over the next decade. &#8230;<\/p>\n<p>The White House targeted $2.3 billion in similar tax benefits for the coal sector between 2011-2020.<\/p>\n<p>It&#8217;s not like this idea materialized out of thin air. Last year, the G-20 nations all pledged to start phasing out fossil-fuel subsidies as a step toward reducing greenhouse-gas emissions. The White House is proposing to redirect some of that money toward cleaner energy sources: The budget also has $5 billion in new loan guarantees for renewable projects and $36 billion in new loan guarantees for nuclear reactors. Though, granted, the president can propose whatever he wants; what really matters is whether lawmakers follow through. And the tax breaks for oil and gas producers have a lot of support in Congress\u2014last year, in the FY2010 budget, the White House wanted to repeal $31.5 billion worth of fossil-fuel subsidies, and that idea was buried. [<a href=\"http:\/\/www.tnr.com\/blog\/the-vine\/white-house-goes-after-oil-and-gas-subsidies\">read more&#8230;<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The New Republic &#8212; There&#8217;s plenty of thrilling budget news today, what with the president&#8217;s proposal for the 2011 fiscal year now up on the OMB site. On energy matters, the big eye-catcher is the fact that White House wants to scrap some $36.5 billion in tax breaks for fossil-fuel producers over the next decade: [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2194],"tags":[],"class_list":["post-949","post","type-post","status-publish","format-standard","hentry","category-headlines"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Headlines ~ White House Goes After Oil And Gas Subsidies--Again | Blueprint America | PBS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbs.org\/wnet\/blueprintamerica\/headlines\/headlines-white-house-goes-after-oil-and-gas-subsidies-again\/949\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Headlines ~ White House Goes After Oil And Gas Subsidies--Again | Blueprint America | PBS\" \/>\n<meta property=\"og:description\" content=\"The New Republic &#8212; There&#8217;s plenty of thrilling budget news today, what with the president&#8217;s proposal for the 2011 fiscal year now up on the OMB site. On energy matters, the big eye-catcher is the fact that White House wants to scrap some $36.5 billion in tax breaks for fossil-fuel producers over the next decade: [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbs.org\/wnet\/blueprintamerica\/headlines\/headlines-white-house-goes-after-oil-and-gas-subsidies-again\/949\/\" \/>\n<meta property=\"og:site_name\" content=\"Blueprint America\" \/>\n<meta property=\"article:published_time\" content=\"2010-02-04T22:36:51+00:00\" \/>\n<meta name=\"author\" content=\"tom mcnamara\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"tom mcnamara\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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