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Gasoline, diesel, and even biofuels can carry a per gallon federal tax. Federal tax on fuel exceeds oil company profits on fuel. Revenue from fuel tax is a major source of income for the treasury.
Federal money is being spent to develop biofuels rather than hydrogen fuel cells, a cleaner form of energy. Our we losing out on better source of energy because it can’t raise the same amount of tax revenue as crude oil?
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6 Responses
actually federal money is being used to develop hydrogen fuel cells.
Penn State U, has made some recent advances in Hydrogen production, to increase the yield vs substrate reacted.
The biggest problem industry is seeing with hydrogen is finding an organism that will efficiently produce enough product to keep up with demand.
It can be taxed like any other gas that is sold for industrial use.
The Government can tax air if it wants to so what makes hydrogen power any different.
They’ll eventually have to develop it fully, because we’ll run out of oil. Right now, people aren’t willing to pay the premium necessary on fuel cells when they can still purchase gasoline.
I hope hydrogen fuel cell doesn’t become popular- its by product is water vapor- water vapor is a labelled as a green house gas – and is greater at contributing to green house effects than Carbon dioxide.
No, taxing hydrogen fuel cell methods is not the main barrier to developping the fuel cells.
Rather, other obstacles like poor efficiency (especially if you have to get hydrogen from water – electrolysis is not effecient).
I think that a lack of real efforts to develop a hydrogen economy (partly supressed by the “carbon club”) is the real obstacle though.
Taxing it should come second. No doubt that the Bush administration, which has been bribed by the “carbon club” is also trying to curtail hydrogen fuel cells despite the propoganda that the president has said.
we are losing out on a better source of energy because it doesn’t profit the oil companies and they have friends in very high places. It has nothing to do with taxes.