Every year, billions of our tax dollars are given away to Big Oil and Coal.
Estimates of the value of US federal subsidies to the domestic oil industry alone (not coal) range from roughly $6 billion to an amazing $52 billion annually. Billions more US federal dollars each year go to “oil aid” – money to fossil fuel corporations in the name of international development assistance.
We shouldn’t be giving any of our tax money to subsidize these corporations that already set record profits while polluting. And we shouldn’t be spending our limited foreign aid dollars financing destructive oil, gas and coal projects.
It’s time to stop funding the problem, and start funding the solution. We need to fund clean energy at home and abroad and support communities vulnerable to climate change, not old and dying industries.
Tell your elected officials that you want them to stop funding the problem and start funding the solution.
For more information:
- Read our report assessing the G20 commitment to phase out fossil fuel subsidies.
- Learn more about fossil fuel subsidies from our Fossil Fuel Subsidies FAQ.