The 45Q Tax Credit and Other Financial Incentives
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Video: 2 attorneys unmask the scandalous 45Q tax gift to Big Oil
The 45Q tax credit gives oil companies huge subsidies with public money, encouraging them to produce even more carbon dioxide.
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Video: Three Experts Discuss Carbon Offsets
Carbon offsets are a scheme to allow carbon polluters to pay someone else to cut their emissions so the carbon polluters can continue to pollute. It’s a big business.
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Video: One "use" for CCS is to create "carbon credits" that can be sold to "offset" CO2 emissions
You have probably heard that you can buy “carbon credits” to neutralize or negate (or “offset”) your personal carbon emissions. Big corporations are buying these credits, too. Here the story…
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Video: Attorney Paul Blackburn explains how the 45Q tax credit scam props up the oil industry with public money
The future of the oil industry depends upon the use of massive amounts carbon dioxide (CO2) to extract more oil from the ground (making climate change worse). But CO2 is expensive to capture — so Congress has created Tax Code Section 45Q to give the oil barons the free CO2 they need to continue polluting.
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The 45Q tax credit has created a massive tax scam. Suddenly dozens of corporations are sidling up to Uncle Sam's hog trough to get some free money, which many of them use to pump more oil out of the ground.
Attorney Paul Blackburn of the Bold Alliance has dissected the 45Q tax scam in a series of essays, available here.