US Subsidies Fossil Fuels at $550 Billion per year

[Mr. Big Dog 10,747]

Isn't the write-off a one year only event? The set-aside to cover the spill remediation and compensation will occur in this financial year, so won't their tax-dodge only be a one-year event, too? If not, it should be.

The 20 bn are set aside in several quarterly installments. Specifically 3 bn in Q3/10, 2 bn in Q4/10 and then 1.25 bn per quarter for the next three years.

[Pooky 3,355]

The 20 bn are set aside in several quarterly installments. Specifically 3 bn in Q3/10, 2 bn in Q4/10 and then 1.25 bn per quarter for the next three years.

Never trust an accountant!

And there's nothing in company financial legislation to stop them? I predict there soon will be.

[mawilson 2,133]

Never trust an accountant!

And there's nothing in company financial legislation to stop them? I predict there soon will be.

It's not unusual for businesses and individuals to carry forward losses. If you have losses

from the current year that could not be offset against income from the current year, you would

carry them forward to the next year. It's perfectly legal for certain types of losses.

Even you (Pooky) can take up to $3,000 of capital losses against ordinary income each year

and carry forward unused losses for as long as you live.