Is Obama really eliminating fossil fuel subsidies?

The short answer: no, hell no, as I describe in a recent piece for my day job (expensive subscription required):

White House officials are claiming the Obama administration’s proposed 2011 budget eliminates subsidies for fossil fuels, saving taxpayers $40 billion over the next decade. But that projected savings is dwarfed by the amount the U.S. government spends protecting oil supplies and trade routes in the Persian Gulf, an estimated $27 billion-$138 billion annual subsidy to the oil industry that experts say increases global energy consumption and greenhouse gas emissions.

At the same time, the Obama administration is proposing more than $1 billion in new funding for fossil fuel research and development, including $668 million for the Department of Energy’s “Clean Coal Power Initiative,” which aims to develop and commercialize new environmental technologies for the coal industry—suggesting what constitutes a fossil fuel “subsidy” is more a political decision than a policy one.

About Charles Davis

A writer and producer with whose work has aired on television and radio and been published by outlets such as Al Jazeera, The Intercept, The Nation and The New Republic.
This entry was posted in Barack Obama, Changeyness, Climate Change. Bookmark the permalink.

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