According to a recent WSJ article, Israel is recommending raising tax on oil companies. It's really interesting because this article actually portrays both side of the story.
The U.S debates that it would limit the amount of investment in Israel. Many other governments believe that they aren't carrying out their "contracts that promised a generous tax and royalty regime", but Israel debates that they are not making money from this at all.
I think this is definitely a sticky situation. If the taxes do go up, I think this might also push some companies to invest in renewable energies. Usually they are talking about how theres a need in renewable energy, and now they are talking about how taxing might be expensive issue. In my infomational interview, the lady I had interviewed stated that the European Nation and China are more advanced in promoting energy efficency and renewable energy and that we need some sort of an incentive in the US to "catch up to them." Although this isn't really an incentive, but could this be it? Is it enough of a push?
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