Big Oil Tries To Kill The Electric Car (Again) | CleanTechnica

Big Oil Tries To Kill The Electric Car (Again) | CleanTechnica

In a recent article in EcoWatch, Elliott Negin details the support Barrasso and other lawmakers pushing to eliminate the tax credit have received from oil industry groups. Koch Industries has been one of the senator’s top 10 supporters since 2013. The company has also given copious amounts of cash to most of the Republicans on the Senate Finance Committee and the House Ways and Means Committee, which will have to approve any change to the EV tax credit.

Shortly before Barrasso introduced his bill, 30 “free-market organizations” signed a letter to Kevin Brady (R-Texas), Chairman of the House Ways and Means Committee, urging Congress to either retain the 200,000-EV cap or “eliminate the tax credit entirely.” The letter was organized by the American Energy Alliance, the political lobbying arm of the Institute for Energy Research. The president of both groups is a former lobbyist for Koch Industries, and Koch foundations gave $8.9 million to the two groups between 2012 and 2016. ExxonMobil and the American Petroleum Institute are also patrons.

A spokesman for Koch Industries told the Times that the company has “a long, consistent track record of opposing all forms of corporate welfare, including all subsidies, mandates and other handouts that rig the system.” In fact, however, the efforts of Koch and its free-market-loving allies tend to focus on tax breaks for clean energy — they seem to have no objections to subsidies for the oil and gas industry. Mr. Negin cites a 2011 study by investment firm DBL Partners, which found that, since 1918, permanent oil and gas tax breaks and other subsidies have averaged $4.86 billion per year in 2010 dollars — the equivalent of $5.62 billion per year today.

via Big Oil Tries To Kill The Electric Car (Again) | CleanTechnica