Posts tagged “oil subsidies”
In last week’s post — If We Only Had a Stable Energy Policy — I mentioned three specific examples of legislation under consideration that create uncertainties within U.S. energy policy. These uncertainties increase the financial risks for those trying to develop energy projects — both for conventional fossil-based projects and for renewable energy projects.
One piece of energy legislation that was recently introduced is called the End Polluter Welfare Act. It was introduced by Senator Bernie Sanders, an Independent from Vermont, along with Minnesota Democratic Congressman Keith Ellison. CONTINUE»
If you were to survey people and ask the question “Should we subsidize oil companies?” — the overwhelming majority would undoubtedly respond “No!” The notion that we are subsidizing oil companies generates outrage in many people, but in this article I will show why these subsidies aren’t going to go away any time soon. The reason may surprise you.
I decided to write this article following a a recent discussion in a CleanTech discussion group on the social networking site LinkedIn. The person who started the discussion asked the question “Why is it so Hard to Kill Fossil-Fuel Subsidies?” The discussion was prompted by a recent article by environmental activist and author Bill McKibben called Payola for the Most Profitable Corporations in History. In the article McKibben proposes “five rules of the road that should be applied to the fossil-fuel industry.” But McKibben himself demonstrated in his article that he doesn’t really understand the nature of these subsidies — and this sort of misunderstanding largely explains why so many people are outraged that they persist.