emma/source-library
Archived
1
0
Fork 0
Code
This repository has been archived on 2025-03-26. You can view files and clone it, but cannot push or open issues or pull requests.
5d78febe26
source-library/fossil_fuels/subsidies.md
Nate B 5d78febe26
Rename subsisides.md to subsidies.md
2020-05-28 21:40:14 -04:00

1.2 KiB
Raw Blame History

Subsidies

Fossil fuel subsidies uphold and enable the fossil fuel industry to carry out large-scale pollution

  • Roosevelt Institute 19 (additional sources referenced)
    • The US government spends approximately $20.5 billion subsidizing the fossil fuel industry [1]
      • $14.7 billion federal subsidies
      • $5.8 billion state subsidies
    • Subsidies:
      • prop up the existing fossil fuel sector
      • drive up fossil fuel extraction and use
      • develop domestic fossil fuel assets
      • represent an obstacle to renewable energy investment by artificially increasing the relative cost of renewable energy [2]
    • If we got rid of fossil fuel subsidies, almost half of all new US oil production would be unprofitable and thus left undeveloped [3]