Read

Error message

Notice: Undefined index: base_url in include_once() (line 125 of /home3/occupyco/public_html/dev/sites/default/settings.php).

User menu

Search form

Subsidy Madness: U.S. Taxpayers Still Spending $21 Billion to Fund Big Oil and Gas

Subsidy Madness: U.S. Taxpayers Still Spending $21 Billion to Fund Big Oil and Gas
Tue, 7/29/2014 - by Shakuntala Makhijani
This article originally appeared on Oil Change International

Oil Change International has released a comprehensive report on fossil fuel exploration and production subsidies in the U.S., Cashing in on All of the Above: U.S. Fossil Fuel Production Subsidies Under Obama, which demonstrates that at a time when we need urgent action on climate change more than ever, the U.S. government is channeling huge and growing amounts of money to increasing discovery and production of oil, gas, and coal. These federal and state subsidies totaled $21.6 billion in 2013.

Subsidies that promote fossil fuel exploration are particularly harmful and hypocritical. The world’s preeminent scientific institutions working on climate and energy have determined that the majority of the world’s existing fossil fuel reserves need to be left in the ground in order to avoid catastrophic climate impacts.

In 2012, the International Energy Agency warned that “no more than one-third of proven reserves of fossil fuels can be consumed prior to 2050 if the world is to achieve the 2°C goal.” The Intergovernmental Panel on Climate Change (IPCC) reached a similar conclusion in its 2013 climate assessment.

“The All of the Above energy strategy is not only climate denial – it’s climate denial that is funded with more than $20 billion in taxpayer support each year,” said Steve Kretzmann, the executive director of Oil Change International.

“Until our representatives in Washington and around the country find the courage necessary to put people’s interests ahead of rich polluters, this theft of our tax dollars is likely to continue. The next step for saving the climate should be clear: Stop Funding Fossils.”

Fossil fuel exploration subsidies are in direct conflict with these calls to restrict fossil fuel production and use. Rather than finding ways to curtail fossil fuel production in line with the demands of climate science, the U.S. federal government, under President Obama’s “All of the Above” energy strategy, is currently channeling more than $5 billion each year in exploration subsidies to actually expand proven reserves, leading to the discovery of fossil fuels that we know we should never burn.

Shakuntala Makhijani, the report’s author, added, “the science is clear that at least two-thirds of proven fossil fuel reserves need to stay in the ground to avoid catastrophic climate impacts – it is time for the U.S. government to show leadership and immediately end the massive subsidies that encourage their production.”

Originally published by Oil Change International

3 WAYS TO SHOW YOUR SUPPORT

ONE-TIME DONATION

Just use the simple form below to make a single direct donation.

DONATE NOW

MONTHLY DONATION

Be a sustaining sponsor. Give a reacurring monthly donation at any level.

GET SOME MERCH!

Now you can wear your support too! From T-Shirts to tote bags.

SHOP TODAY

Sign Up

Article Tabs

prison reform, incarceration rates, private prisons, for-profit prisons, white supremacy, enslavement, climate justice, racial justice, Green New Deal

The year 2020 has caused many white people to realize we live in a racist system. The Green New Deal is about systemic change for all, and deconstructing racism must be front and central in this agenda.

coronavirus pandemic, Donald Trump, Boris Johnson, Jair Bolsonaro, COVID-19 deaths, downplaying coronavirus

By infecting three of the world’s most right-wing leaders, the coronavirus underscored not only the incompetence and irresponsibility of their governments – but the truth that their brand of populism doesn't keep people safe.

COVID-19, corporate bailouts, corporate welfare, corporate destruction

Corporations are not "too big to fail" and, when they commit crimes, they are not "too big to jail." As David Whyte writes in his new book, "Ecocide: Kill the Corporation Before It Kills Us," the moment is now to rein in out-of-control corporate power.

The world has lost an incredible thinker and doer. I have lost an amazing friend. A void exists where before it was filled with David's optimism, humour and joy.

Kevin Zeese speaks at a rally for Chelsea Manning. By Ellen Davidson.

Kevin fought to bring truth every day. We must not lose this struggle.

prison reform, incarceration rates, private prisons, for-profit prisons, white supremacy, enslavement, climate justice, racial justice, Green New Deal

The year 2020 has caused many white people to realize we live in a racist system. The Green New Deal is about systemic change for all, and deconstructing racism must be front and central in this agenda.

coronavirus pandemic, Donald Trump, Boris Johnson, Jair Bolsonaro, COVID-19 deaths, downplaying coronavirus

By infecting three of the world’s most right-wing leaders, the coronavirus underscored not only the incompetence and irresponsibility of their governments – but the truth that their brand of populism doesn't keep people safe.

COVID-19, corporate bailouts, corporate welfare, corporate destruction

Corporations are not "too big to fail" and, when they commit crimes, they are not "too big to jail." As David Whyte writes in his new book, "Ecocide: Kill the Corporation Before It Kills Us," the moment is now to rein in out-of-control corporate power.

The world has lost an incredible thinker and doer. I have lost an amazing friend. A void exists where before it was filled with David's optimism, humour and joy.

Kevin Zeese speaks at a rally for Chelsea Manning. By Ellen Davidson.

Kevin fought to bring truth every day. We must not lose this struggle.