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Petroleum versus nuclear: the industries fight each other for tax-payer subsidies

With Renewables Surging, Nuclear And Petroleum Battle Over Subsidies, Forbes, Jeff McMahon , 4 May 17  If the petroleum industry continues to fight subsidies for nuclear power, the nuclear industry will go after petroleum-industry tax breaks, the president of the Nuclear Energy Institute said Tuesday.

“They might say, oh don’t subsidize this, but let me tell you, you open up the books and you might not call it a subsidy but I tell you there’s a lot of tax breaks that the American Petroleum Institute gets,” said Maria Korsnick, president and CEO of NEI, the leading nuclear industry lobbying group.

“If in fact that’s the playing field that we’re going to be set with, then you’re going to hear more about comparisons of subsidies vs. tax breaks in order to get all the information, if you will, out on the table.”The American Petroleum Institute, the largest lobbying group for oil and gas companies like ExxonMobile and Chevron, has lobbied against legislative efforts in several states to save aging nuclear plants that are struggling to compete against cheap natural gas and, in some places, cheap renewable energy.

 In Ohio, for example API Ohio Executive Director Chris Zeigler sent a message to state legislators:

“Abundant natural gas has provided Ohio consumers with reliable and affordable energy and created countless jobs throughout the state without government subsidies,” Zeigler said. “Instead of subsidizing nuclear power companies, we should let the markets work to protect consumers.”

API accused the nuclear industry of misleading consumers about the consequences of closing nuclear plants, arguing that natural gas would continue to lower emissions even if two Ohio plants close.

The nuclear industry has won support in New York and Illinois, with Exelon and Entergy benefitting. Lest those victories set a trend, the oil industry is raising objections in Ohio, Pennsylvania, and Connecticut…..https://www.forbes.com/sites/jeffmcmahon/2017/05/04/with-renewables-surging-nuclear-and-petroleum-battle-over-subsidies/#27185f7d4b15

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May 5, 2017 - Posted by | business and costs, politics, USA

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