Sentences with phrase «federal oil subsidies»
Today, Senator Brian Schatz of Hawaii unveiled the FAIR Energy Policy Act, which would end a subset of existing U.S. federal oil subsidies within four years.
http://priceofoil.org/ Not exact matches
They are the ones who use racist, nasty comments about the poor on welfare and call them «takers» when in fact the Federal government spends 10 times more on corporate tax loopholes and «corporate welfare» in subsidies to oil companies, the sugar and corn industries and many others.
Justice Agbim noted that «the fuel subsidy fraud involved corruption and fraud on a very massive scale»; that it involved many oil companies and officials of government's regulatory agencies «looting and stealing of trillions of naira from the Federal Government of Nigeria and threatening the security and economy of Nigeria.»
One of the charges read, «That you, Adegbite Adetoye and Ponnle Abiodun whilst being directors of Origin Oil and Gas Limited on or about the 8th day of October 2010 to December, 2011 in Abuja within the jurisdiction of the High Court of the Federal Capital Territory, Abuja and with intent to defraud, conspired to obtain the sum of N735, 132, 076.18 From the Federal Government of Nigeria under false pretence that the said sum represented subsidy accruing to you, whereas the sum is above the actual subsidy payment for the importation of 15,000 mt of premium motor spirit (petrol) which you claim to have purchased from Vitol SA and imported into Nigeria through MT Silverie which representation you knew to be false.»
Despite the public outcry against the proposed removal of oil subsidy as from next year, Niger State Governor Babangida Aliyu yesterday wooed traditional rulers to support the Federal Government's plan.
The Major Oil Marketers Association of Nigeria, MOMAN, has called on the federal government to pay the fuel subsidy claims owed to its members.
The Minister of Finance, Mrs Kemi Adeosun, on Tuesday said the Federal Government had fully paid the N48.2 billion outstanding subsidy arrears owed oil marketers in 2015.
The military practically abolished Nigeria's federal system in favour of a unitary, distributive economy in which we all shared proceeds of oil; they created more and more states eroding sub-national economic viability; they nationalized and indigenized banks and declared that government would hold the «commanding heights» of our economy, marginalizing investment and the private sector brought in «big government»; they implemented «Udoji awards» and other elements of oil and FX subsidies that Nigeria battles to overcome today; and the about - to - depart government of Murtala / Obasanjo took the first $ 1billion jumbo loan that set Nigeria on the path to debt peonage!
According to the article, about 70 percent of all federal energy subsidies goes toward oil, natural gas and coal (billions of tax dollars every year!)
Instead of requiring perpetual subsidies, á la the «renewable» technologies that President Obama intends to redouble if he is reelected, the oil sands generate vast sums in royalties and taxes: an anticipated $ 690 billion into federal and provincial coffers all across Canada over the life of the project.
These measures include levying a price on carbon emissions, eliminating tax subsidies for fossil fuels and ending implicit subsidies, such as leasing federal lands that contain coal or oil at rates below the fair market rate.
That must be why that industry wouldn't exist without federal subsidies more than 100 times those granted oil and gas, per unit of energy produced.
Federal and state subsidies for ethanol helped keep the fuel in production when ethanol prices fell with crude oil and gasoline prices in the early 1980s.
As of November 2011, a large majority of Americans (70 %) also opposed federal subsidies for the fossil fuel industry (coal, oil, and natural gas), including majorities of Republicans, Democrats, and Independents:
«In 2006, Earth Track estimated that the US oil and gas industry received $ 39 billion in federal energy subsidies, and the coal industry a further $ 8 billion.»
Hence, if you want to change directions, you have to influence the politics — you have to work to prevent the Koch Brothers from destroying California renewable energy initiatives, you have to work to eliminate federal subsidies and liability caps for fossil fuel projects (which would mean that oil drillers would have to post $ 10 billion bonds for every deepwater project they initiated), and — for academic scientists — you have to lobby your academic administrators to cut their ties with shady fossil fuel interests like BP and Exxon, and work to open renewable energy research institutes at America's leading universities.