Publication Sees Possible Rise of Energy Taxes
HOUSTON -- as Uncle Sam comes a calling, World Energy Monthly Review editorials share speculation. Energy taxes fill government coffers, industry bears a burden, and consumers pay the price. In a separate editorial, the price of oil increases, still the reality of oil supply is uncertain as no global standard for reporting exists, SEC unwilling to move forward. Alternately, hybrid vehicles' "clean" electricity comes from coal-fired generation, yet tax-credit is available. Read more in the April edition of World Energy Monthly Review, available now, www.WorldEnergySource.com/WEMR.
World Energy publisher Richard Loomis along with Karr Ingham turn sights to government taxing on the energy industry. Tax reform is necessary, however, "The energy industry provides a cash cow for governments at all levels," suggests Loomis and Karr. In this industry both production and consumption are taxed. Production taxes create "artificial market distortions" harmful to producers and consumers.
On the supply side, the security of oil & gas reserves is a pressure on the price of oil and question exists as to the reality of supply shortage. John Brooks and Hugh Ebbutt take a detailed look into the identification and reporting of reserves, suggesting the urgent need for a global standard to be put in place for data and reporting. Urging that until "...a standard is adopted, the industry will not be well enough informed to make the realistic, long-term energy plans, including the massive investments to recover these reserves..." Brooks and Ebbutt suggest, a "...corporate scandal might push the SEC to revise its rules and adopt a globally acceptable standard."
Alternative energy headlines more in the last quarter than in the last decade. Brian K. Tully looks at where the "clean fuel" for hybrid vehicles comes from relaying that "The best current solution lies in the Prius-type gas-electric hybrid..."
In the same issue we look into what is happening in Russia, Iran and North America in our spotlight sections.
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