News

As Oil Industry Fights a Tax, It Reaps Subsidies

When the Deepwater Horizon drilling platform set off the worst oil spill at sea in American history, it was flying the flag of the Marshall Islands. Registering there allowed the rig’s owner to significantly reduce its American taxes.

The owner, Transocean, moved its corporate headquarters from Houston to the Cayman Islands in 1999 and then to Switzerland in 2008, maneuvers that also helped it avoid taxes.

At the same time, BP was reaping sizable tax benefits from leasing the rig. According to a letter sent in June to the Senate Finance Committee, the company used a tax break for the oil industry to write off 70 percent of the rent for Deepwater Horizon — a deduction of more than $225,000 a day since the lease began.

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Xcel's New Solar Coal Project

DENVER--(BUSINESS WIRE)--Xcel Energy is now operating a first-of-its-kind demonstration of a hybrid solar-coal approach, using parabolic-trough solar technology integrated with a coal-fired power plant. The project, located at Xcel Energy’s Cameo Generating Station near Grand Junction, Colo., is designed to increase the plant’s efficiency, decrease the use of coal, test the commercial viability of concentrating solar power thermal integration, and lower carbon dioxide emissions. Abengoa Solar developed the parabolic-trough technology, which concentrates solar energy to provide heat for producing supplemental steam for electric power production.

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The Daily Show on Energy Independence

Boulder Country Club - Lumos 285 Installation by Lighthousesolar

Check out this time lapse of our 98 kW solar installation at the Boulder Country Club by Lighthousesolar! (Lumos 285 panels)

Lighthousesolar BCC Panel Installation from Lighthousesolar on Vimeo.