Lately Randi Rhodes has been talking about a recurring theme
The Oil and Energy Subsidies
and about how these Big Industries keep getting Billions in Energy Subsidies,
simply by investing a few Millions in Energy Lobbyists in DC,
and other Anti-Science Front Groups.
-- What a Steal, for them!
What a waste for us. Our Tax-Payer Energy Subsidy money COULD BE invested much more wisely ...
-- that is IF Congress were encouraging R&D in the Tech of the Future
and NOT busily apologizing to BP and others -- when they don't have a clue how to handle the Tech of the Past.
But then again, a few million well-spent Lobby dollars, buys you a LOT of Subsidies, now doesn't it?
-- even if those Subsidies are mostly intent on moving us in a constant BACKWARDS Direction!
[ Environmental Law Institute ] Larger Image
Now about the makers of that Chart:
Energy Subsidies Black, Not Green
Environmental Law Institute
A study released by the Environmental Law Institute, a nonpartisan research and policy organization, shows that the federal government has provided substantially larger subsidies to fossil fuels than to renewables. Subsidies to fossil fuels totaled approximately
$72 billion over the seven-year study period, while subsidies for renewable fuels totaled $29 billion over the same period.
Energy Subsidies Favor Fossil Fuels Over Renewables
2011 Environmental Law Institute
[...]
-- The vast majority of subsidy dollars to fossil fuels can be attributed to just a handful of tax breaks, such as the Foreign Tax Credit ($15.3 billion) and the Credit for Production of Nonconventional Fuels ($14.1 billion, though this credit has since been phased out). The largest of these, the Foreign Tax Credit, applies to the overseas production of oil through an obscure provision of the Tax Code, which allows energy companies to claim a tax credit for payments that would normally receive less-beneficial tax treatment.
-- Almost half of the subsidies for renewables are attributable to corn-based ethanol, the use of which, while decreasing American reliance on foreign oil, raises considerable questions about effects on climate.
When will Americans break the grip of Big Oil, Big Energy, Big Nukes and their Big Bucks ?
When will we start directing OUR Tax-Payer Energy Subsidy Investments -- in a FORWARD Direction -- into OUR Futures,
instead of THEIR Corporate Bottom-lines?
With the Record Corporate Profits for the 3rd Year in a round -- I doubt they -- Big Oil, Big Energy, Big Nukes -- really need OUR Subsidy help, now do they.
Lobbying --
American Petroleum Institute
2009 Total Spent: $7,320,000