O’Rourke's $5 Trillion Plan To Combat Climate Change

[Sofia + 35]

Democratic presidential candidate Beto O’Rourke has announced his first major policy initiative, a $5 trillion plan to combat climate change that he says will keep the Earth from sliding past the point of no return in less than a generation.

The plan calls for increasing taxes on “corporations and the wealthiest among us” and “ending the tens of billions of dollars of tax breaks currently given to fossil fuel companies” while offering federal grants to encourage innovative improvements in housing and transportation. It seeks to spend $5 trillion over 10 years to improve aging infrastructure nationwide and to take “significant actions to defend communities” preparing for intensified floods, droughts, hurricanes, fires and other natural disasters fueled by a changing climate.

https://www.politico.com/story/2019/04/29/beto-orourke-climate-change-plan-1388650

[Leonard 0]

Does any one  know of a company called Stone capital.partners ??

They deal in oil futures and options,I would be pleased to hear from you,

[Tom Kirkman + 8,860]

7 hours ago, Sofia said:

The plan calls for increasing taxes

 

 

 

 

 

Bonus pic, for no particular reason except to point out how viewpoints can change over time, egged on by Mainstream Media biases and revenue streams....

 

 

And...

 

[AdrianC + 42]

Having read his webpage about this, he proposes to do almost nothing during his term of office. He'll re-enter the Paris Agreement and start negotiating for the future. The spending he proposes would be spent largely on corporate subsidies and other slush fund sort of activities, not on actually making a transition to renewable energy. The word "solar" is not even present at all in Beto's environmental plan.

[markslawson + 1,057]

$5 trillion is actually $500 million a year over 10 years which may not be all that much in the context of the US Federal budget. Also, like all such policy pronouncements, its a load of feel-good nonsense about using the market to reduce emissions and boosting the use of electric cars and so on and on.. all this is to be paid for by ending "favourable" tax breaks for fossil fuel      companies. We are not told what those favourable tax breaks are. Coal companies can claim deductions like any other company but are any of those deductions specific to coal/oil companies? The only one I can think of in Australia is the diesel fuel rebate (a road tax component of the price of diesel is handed back to mining companies as their equipment does not use roads). Does anyone with more knowledge of the US tax system know what could be changed?

[Oil_Engineer + 86]

On 4/29/2019 at 7:46 PM, markslawson said:

$5 trillion is actually $500 million a year over 10 years which may not be all that much in the context of the US Federal budget. Also, like all such policy pronouncements, its a load of feel-good nonsense about using the market to reduce emissions and boosting the use of electric cars and so on and on.. all this is to be paid for by ending "favourable" tax breaks for fossil fuel      companies. We are not told what those favourable tax breaks are. Coal companies can claim deductions like any other company but are any of those deductions specific to coal/oil companies? The only one I can think of in Australia is the diesel fuel rebate (a road tax component of the price of diesel is handed back to mining companies as their equipment does not use roads). Does anyone with more knowledge of the US tax system know what could be changed?

I think you mean 500 BILLION per year over ten years.  That's quite a bit more than 500 MILLION per year.

[markslawson + 1,057]

2 hours ago, Oil_Engineer said:

I think you mean 500 BILLION per year over ten years.  That's quite a bit more than 500 MILLION per year.

Gasp! You're right - silly me.. I got my units mixed.. anyway, its still feel good nonsense and that's a lot of money to spend on feel good nonsense. Thanks for pointing that out..