France’s high court rules in favor of ending tax benefits for palm oil diesel

Green Car Congress

France’s Constitutional Council, the highest constitutional authority in the country, ruled in favor of excluding palm oil from the list of biofuels that enjoy tax incentives. Oil company Total has estimated it is worth between €70 million and €80 million per year. In March, the European Commission decided that palm oil is not a green fuel and should not be promoted because it causes deforestation. The EU is the second largest importer of crude palm oil in the world.

2019 203

Battle over EV tax credit pits automakers against oil interests

Green Car Reports

The possibility of an extension for the $7,500 federal EV tax credit has recently intensified lobbying efforts in Washington D.C.—and —and pitted the efforts of the auto industry soundly against those of the oil and gas industry. Plug-In Hybrids EV tax creditSo reports the Washington Post. According to its report this week, the powerful companies and interests opposing the.


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California reduces tax on dimethyl ether (DME) fuel to be consistent with other alternative fuels; enabling retail sales

Green Car Congress

The California state legislature passed and the Governor signed into law a bill ( AB-2663 ) that lowers the Use Fuel Tax rate of dimethyl ether (DME) from $0.18 per gallon of DME-propane fuel blend used on or after 1 July 2021 (the same tax rate as propane, $0.06

2020 312

How crude-oil prices influence gasoline prices

Green Car Congress

Gasoline is one of the products refined from crude oil. Thus, the price of crude oil should have a strong influence on the price of gasoline. The Energy Information Administration (EIA) estimates that in the United States from 2008 to 2017, crude oil represented only 61% of the retail price of gasoline. Refining costs and profits represented 12%, distribution and marketing costs 12%, and federal and state taxes 15%. Fuels Market Background Oilby Michael Sivak.

2018 194

President Obama proposes 50% increase in spending on clean transportation, funded by $10/barrel tax on oil

Green Car Congress

President Obama has laid out a plan for building a “21st Century Clean Transportation System”, the investment for which would be funded by a new $10 per barrel fee on oil paid by oil companies, which would be gradually phased in over five years. The Obama Administration says the the $10/barrel tax raises the funding necessary to make these new investments, while also providing for the long-term solvency of the Highway Trust Fund.

2016 220

MIT study suggests carbon tax could help reduce US deficit, lower other taxes, reduce emissions

Green Car Congress

A new report from MIT’s Joint Program on the Science and Policy of Global Change suggests that a tax on carbon emissions could help raise the money needed to reduce the US deficit, while improving the economy, lowering other taxes and reducing emissions. In the report— Carbon Tax Revenue and the Budget Deficit: A Win-Win-Win Solution? They found that the tax would raise $1.5 The third win—carbon dioxide (CO 2 ) pollution and oil imports would be reduced.

2012 257

The New Oil Cartel Threatening OPEC

Green Car Congress

When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. oil and gas production gives us greater leverage against OPEC,” the Times of India quoted an Indian official as saying last month after the formal start of said talks. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oil market.

2018 163

The New Oil Cartel Threatening OPEC

Green Car Congress

When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. oil and gas production gives us greater leverage against OPEC,” the Times of India quoted an Indian official as saying last month after the formal start of said talks. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oil market.

2018 150

Obama Proposes $10 Per Barrel Tax On Oil To Fund U.S. Transportation Needs

Green Car Reports

president Barack Obama will propose a tax of $10 per barrel on oil in the 2017 budget he will submit to Congress next week. According to the White House, its goal is to create "a clear incentive for private-sector innovation to reduce our reliance on oil, and at the same time invests in clean energy. You have to give the man credit for vision.

Obama 95

Berkeley Law’s CLEE report provides policy options for phasing out oil and gas production in California

Green Car Congress

California is the seventh-largest oil-producing state in the US. The state’s crude oil production in 2018 was approximately 162 million barrels—mainly from onshore wells—down from 174 million barrels in 2017 and a recent high of 205 million barrels in 2014. In addition, oil produced in the state contributes to California’s total transportation emissions. Emissions Manufacturing Market Background Natural Gas Oil Policy

2020 150

Opinion: Expect A Wave Of Consolidation In The Oil Industry

Green Car Congress

The point is, with volumes languishing (and probably poised to decline) tied to a flat oil futures price curve and with economics marginal at $60 per barrel, many E&P operators find themselves running through hedges in 2015 and still in need to finance their already reduced capital spending. This also demonstrates how the OPEC strategy of maintaining an oil price ceiling is affecting US E&P companies, forcing a consolidation which I believe will be unprecedented in size and scope.

2015 236

Oil interests lobby against carbon tax before it even gets proposed

Green Car Reports

Those who make big money off oil interests are wasting no time nipping a new carbon tax in the bud. Before such a proposal ever reaches Congress, a coalition of conservative and energy interests—including the American Energy Alliance, and the Competitive Enterprise Institute—sent a letter to House Republican leaders on Tuesday decrying. climate change

2018 66

Caelus confirms large-scale oil discovery on the North Slope of Alaska

Green Car Congress

Caelus Energy Alaska, LLC, a privately held independent exploration and production company, announced that its subsidiary, Caelus Energy Alaska Smith Bay LLC, has made a significant light oil discovery on its Smith Bay state leases on the North Slope of Alaska. Based on two wells drilled in early 2016, as well as 126 square miles of existing 3D seismic, Caelus estimates the oil in place under the current leasehold to be 6 billion barrels.

2016 216

Opinion: Everyone Is Guessing When It Comes To Oil Prices

Green Car Congress

Predicting and diagnosing the trajectory of oil prices has become something of a cottage industry in the past year. But along with all of the excess crude flowing from the oil patch, there is also an abundance of market indicators that while important, tend to produce a lot of noise that makes any accurate estimate nearly impossible. First there is the oil price itself. One of the big unknowns is how oil demand will respond to low prices. Market Background Oil Opinio

2015 199

Opinion: Saudis Planning For A War Of Attrition In Europe With Russia’s Oil Industry

Green Car Congress

Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn. The result is a heavier discount for Russia’s crude oil, the so-called Urals blend. However, the upside to Russia’s oil production is limited.

Russia 228

Obama Oil Tax, Electric-Car Charging Costs, Tesla Gigafactory: Today's Car News

Green Car Reports

Today, President Barack Obama proposes a tax of $10 per barrel on oil, California wrestles with the question of who should pay for electric-car charging infrastructure, and the Nevada government says the Tesla "Gigafactory" fell short of job and investment projections in 2015.

2016 85

Fuel provisions in the Tax Relief bill

Green Car Congress

4853 , the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (“Middle Class Tax Relief Act of 2010”). The bill extends the Volumetric Ethanol Excise Tax Credit (VEETC) through 2011 at the current rate of $0.45/gallon US. The bill also extends through 2011 the $0.10/gallon producer tax credit for small ethanol producers producing no more 60 million gallon of ethanol a year. US President Barack Obama on Friday signed H.R.

2010 200

Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

Green Car Congress

November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. and China markets, while the Russian Finance Ministry recently backed away from a tax proposal which Russian crude producers said would reduce their output. per barrel oil in 2015 and 2016 respectively, while the October projections are based $51.62 Market Background Oil Opinion Russiaby Dalan McEndree for

Russia 216

Bloomberg Intelligence: US border tax could boost gasoline prices average $0.30/gallon

Green Car Congress

If the proposed broad 20% border-adjustment tax were implemented and applied to the energy sector, the result would likely lead to a large increase in gasoline prices and a big premium in domestic oil prices vs. international, according to new analysis by Bloomberg Intelligence. PBF Energy and Phillips 66, the US refiners importing the most foreign crude, would have significant exposure to the border tax, Bloomberg Intelligence said.

2017 163

Ending $4 billion U.S. oil, gas drilling subsidies would have low impact: study

Green Car Reports

subsidies to the oil and gas industries are often a flashpoint among electric-car advocates and environmentalists. Carbon Footprint natural gas incentives climate change taxes oil well government subsidy energyThey see a conflict in the government providing billions of dollars in incentives for drilling while simultaneously attempting to lower consumption of carbon-emitting energy sources. Now a new study suggests that those subsidies.

2016 79

Shell completes divestment of oil sand interests in Canada; retains Scotford refinery and plants

Green Car Congress

Royal Dutch Shell plc announced the completion of two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources (Shell) that will see Shell sell all its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60% to 10%. As previously announced, the transactions were estimated to result in a post-tax impairment of $1.3 Canada Oil sands

Baker Institute expert: crude-oil production increase a risky strategy for Saudi Arabia

Green Car Congress

A number of factors are pushing Saudi Arabia to raise its crude-oil production capacity, but the wide range of potential outcomes suggests that such an increase is a risky strategy for the kingdom and the global environment, according to a new article by an expert from Rice University’s Baker Institute for Public Policy. Most notably, a rise in Saudi crude-oil output could trigger a damaging period of global oversupply, said Jim Krane, the Wallace S. Market Background Oil

China exempts taxes on biodiesel

Green Cars News

In a major boost for the biofuel sector, China has decided to exempt taxes on pure biodiesel from waste animal fats and vegetable oils. Its new policy will actually be retroactive from January 1, 2009, with taxes that have already been paid to be refunded according to the Ministry of Finance and the State Administration [.]. Biofuels Green cars Latest news biodiesel biodiesel tax China vegetable oils waste animal fats

Tax 51

Opinion: This Is What Needs To Happen For Oil Prices To Stabilize

Green Car Congress

On September 10 th , the EIA reported a production decline in the Lower 48—essentially shale production—of 208,000 BOPD (barrels of oil per day). Rather, Goldman Sachs was grabbing all the headlines with its $20 call on oil. Shale oil wells lose a lot of production up front, maybe 70 percent in the first year before tapering off at a 5 to 10 percent annual decline over the next few years until leveling off for the life of the well—maybe 20 years or so out.

2015 203

Sen. Baucus draft for energy tax reform focuses on clean production of electricity and fuels; repeals plug-in vehicle credits

Green Car Congress

introduced the latest in a series of discussion drafts to overhaul the US tax code. This new staff discussion draft focuses energy tax policy on stimulating domestic, clean production of electricity and transportation fuels, which account for 68% of energy consumed in the US. It also would repeal a number of current tax incentives, including those for plug-in electric vehicles and fuel cell vehicles. Specific proposals include: Clean electricity tax credit.

2013 234

Grassley-Conrad bill would extend ethanol tax credits through 2016

Green Car Congress

US Senators Chuck Grassley (R-Iowa) and Kent Conrad (D-North Dakota) introduced a bill—the Domestic Energy Promotion Act of 2011— that would extend, through 2016, at descending levels, the volumetric ethanol excise tax credit, or VEETC, which is also known as the blenders’ credit. It also would extend, through 2016, the alternative fuel refueling property credit; the cellulosic producers’ tax credit; and the special depreciation allowance for cellulosic biofuel plant property.

China adopts new car tax based on engine size to promote energy conservation

Green Car Congress

China’s legislature voted on Friday to adopt a new tax based on engine size to encourage the use of smaller engines in vehicles and vessels to reduce pollution and oil dependence. The annual taxes on vehicles and vessels range from 60 yuan to 5400 yuan, according to engine size as stipulated by the new law. According to the second draft, taxes on vehicles with engine capacities from 1.0 Meanwhile, taxes on vehicles with engine capacities of 1.6 Xinhua.

2011 214

RFF papers explore differing outcomes of higher gasoline taxes on public transit and rural areas

Green Car Congress

aggregated to the county level given a 10 cent per gallon tax shows tremendous. Economists view higher gasoline taxes as one solution to reducing gasoline consumption and thus air pollution, greenhouse gas emissions, and reliance on oil, while at the same time providing revenue to the government for highway repair and construction. system has important policy implications: a gasoline tax would have greater efficacy in reducing.

2012 218

U Chicago, MIT study suggests ongoing use of fossil fuels absent new carbon taxes

Green Car Congress

A paper by a team from the University of Chicago and MIT suggests that technology-driven cost reductions in fossil fuels will lead to the continued use of fossil fuels—oil, gas, and coal—unless governments pass new taxes on carbon emissions. In the US alone, oil reserves have expanded 59% between 2000 and 2014, and natural gas reserves have expanded 94% in the same time. for oil, 24% for coal, and 20% for natural gas.

2016 150

French Environment Minister Outlines Revised Carbon Tax Plan

Green Car Congress

French Environment Minister Jean-Louis Borloo on Wednesday outlined a revised proposal for a carbon tax on large stationary emitters, following the Constitutional Court’s rejection of the original plan last December. The carbon tax would run until 2013, at which time emitters would start paying for permits under the revised EU Emission Trading Scheme (EU ETS). The law exempted big emitters from power stations to oil refineries and cement works.

ICCT suggests minor changes to Fed tax policy to cut higher investment risk of 2nd-gen biofuels and advance the industry

Green Car Congress

Minor changes to an existing Federal tax incentive for second-generation biofuels (i.e., Some of the ICCT recommendations are mirrored in the recently released Baucus draft proposal for tax reform ( earlier post ), notes Dr. Chris Malins of the ICCT, one of the study’s co-authors. In addition, the industry faces barriers from the impending “blend wall” of 10% ethanol in gasoline and uncertainty regarding policies and oil prices.

2013 221

Jordan signs $2B oil shale investment agreement with Saudi company

Green Car Congress

The government of Jordan and the Saudi Arabian Corporation for Oil Shale (SACOS) recently signed a $2-billion agreement under which the government grants the Saudi company the right to extract and to develop the oil shale resources in the Attarat Um-AL-Ghudran region covering an area of 11 square kilometers. The cost of the project including the shale oil upgrading facilities is estimated to be $4 billion.

Jordan 218

Researchers propose framework for CCS infrastructure optimization to reduce GHG emissions from oil sands extraction and processing

Green Car Congress

The width of the pipeline network (green lines) is proportional to CO 2 flow; the largest CO 2 flow is approximately 36 MtCO 2 / yr for the $155/tCO 2 scenario (pipeline leaving the Athabasca oil sands area). Two researchers from Los Alamos National Laboratory and Stanford University have developed an integrated framework that simultaneously considers economic and engineering decisions for the capture, transport, and storage of oil sands CO 2 emissions (CCS).

China exempts consumption taxes on biodiesel retroactive to 1 Jan 2009

Green Car Congress

China has exempted consumption taxes on pure biodiesel made from waste animal fats or vegetable oils. 2009 and taxes already paid will be refunded, according to the Ministry of Finance (MOF) and the State Administration of Taxation. It is expected to make the biodiesel producers more competitive in the fuel sector and guard against waste edible oils being reused for human consumption so to ensure food safety, the announcement said. Xinhua.

2010 200

US Sen. Brown introduces legislation to extend advanced energy manufacturing tax credit

Green Car Congress

Sherrod Brown (D-OH), would extend the advanced energy manufacturing tax credit (48C credit). To be eligible for the tax credit, manufacturers must produce solar, wind, or geothermal energy equipment; fuel cells, microturbines, or batteries; electric cars; electric grids; energy conservation technologies; or equipment that captures and sequesters carbon dioxide or reduces greenhouse gas emissions. The Security in Energy and Manufacturing (SEAM) Act, authored by US.

Governator ads, electric BMW motorcycle, automakers vs. oil: Today's Car News

Green Car Reports

And lobbying battles are heating up between automakers and the oil industry. Lobbying has intensified around a proposal to extend federal tax. Arnold Schwarzenegger comes back with ads for electric cars. BMW joins the electric-motorcycle ride. The EPA's architect of clean-air rule rollbacks has resigned. All this and more on Green Car Reports. Today in Car News

2019 69

Gulf Oil adds LNG-powered trucks to its transportation fleet

Green Car Congress

Gulf Oil LP, a national branded supplier of motor fuels throughout the United States and its territories, has deployed 34 transport trucks that run on liquefied natural gas (LNG). For example, fleets that have more than 10 vehicles that use at least 20,000 gallons per year in a ‘return-to-base operation’ can expect to lock in an after-tax internal rate of return in the 20 to 35 percent range.

2012 196

US Representatives Introduce Bill to Extend Ethanol Excise Tax Credit and Tariff

Green Car Congress

Volumetric Ethanol Excise Tax Credit (VEETC), commonly called the blenders’ credit, and the secondary tariff on imported ethanol until 31 December 2015. It would also extend the Small Producers Tax Credit and the Cellulosic Ethanol Production Tax Credit to 1 January 2016. US Representatives Earl Pomeroy (D-ND) and John Shimkus (R-IL) have introduced a bill in Congress—the Renewable Fuels Reinvestment Act (RFRA)—that would extend the $0.45

Stanford team proposes method for electricity production from oil shale with in situ carbon capture to provide transportation energy with reduced CO2 emissions

Green Car Congress

A team at Stanford University is proposing using solid oxide fuel cells as the basis for a method for electricity production from oil shale with in situ carbon capture (EPICC) as a means to provide transportation services from oil shale with greatly reduced CO 2 emissions. However, liquid hydrocarbon (HC) fuels derived from oil shale have ~1.2-1.75 times the GHG emissions of HC fuels produced from conventional oil on a full-fuel-cycle (well-to-wheels) basis.

2011 192

Biodiesel Board Study Asserts Critical Importance of Biodiesel Tax Credit, Calls for Extension

Green Car Congress

According to a study released by the US National Biodiesel Board (NBB), allowing the Federal biodiesel tax incentive to expire on 31 December would result in a loss of jobs and income; increased demand for petroleum diesel; a degradation of energy security; decreased demand for soybean oil and lower soybean prices leading to a negative impact on farm income; and stranded investment as biodiesel capacity is idled and lost tax revenue for States and local governments.

EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

Green Car Congress

Domestic crude oil production increases sharply in the AEO2014 Reference case, with annual growth averaging 0.8 While domestic crude oil production is projected to level off and then slowly decline after 2020 in the Reference case, natural gas production grows steadily, with a 56% increase between 2012 and 2040, when production reaches 37.6 T he Brent crude oil spot price declines from $112 per barrel (bbl) (in 2012 dollars) in 2012 to $92/bbl in 2017.

2013 241

Baker Institute expert suggests assumptions about oil’s influence on politics in the Middle East should be reversed

Green Car Congress

Assumptions about oil’s influence on politics in the Middle East should be reversed, according to a new article from an expert at Rice University’s Baker Institute for Public Policy. Instead of oil buttressing autocracy, the article argues that autocracy among oil exporters buttresses oil by encouraging consumption. Collectively, the region harbors around half of the world’s conventional reserves of oil and natural gas.

2016 150

ConocoPhillips selling Clyden oilsands asset to Imperial Oil and ExxonMobil Canada for $720M

Green Car Congress

ConocoPhillips has entered into an agreement to sell its 100% interest in the Clyden oilsands leasehold to Imperial Oil and ExxonMobil Canada for approximately $720 million (C$751 million) before customary adjustments. Comprising 226,000 net acres of undeveloped land, Clyden is located near the southern edge of the Athabasca oil sands and south of Fort McMurray, Alberta.

2013 184