Posts in oil and gas subsidies
- Earlier today President Obama challenged Congress to either stand with Big Oil, or stand with the American people. A vote on legislation introduced by Senator Robert Menendez (D-NJ) that would have eliminated over $2.4 billion in annual tax deductions to the top 5 oil companies was subsequently defeated a few hours later. Once again Congress...
Continue reading 'Senate Fails to Cut Favors to Big Oil, Once Again'.
- You can SHARE this infographic on Facebook. What if you were in Vegas, and a friend told you there was a slot machine in the corner that was giving out $59 for every $1 that was put in? You’d think the machine was broken, and that it was rigged. What if an investment advisor told...
Continue reading 'One Dollar In, Fifty-Nine Out'.
- Development Banks Still Financing Dirty Energy New Database Reveals $40 Billion in Fossil Fuel Funding Over Last Four Years Nov. 30, 2011, Durban, South Africa – Major multilateral development banks have provided financing of over $40 billion to fossil-fuel energy development since 2008, according to the new Shift the Subsidies database (http://shiftthesubsidies.org), launched today by...
Continue reading 'Shift the Subsidies Database Reveals $40 Billion in Fossil Fuel Funding Over Last Four Years'.
- New report shows institution lacking clean energy lending strategy and instead considering a new loan for coal power in Kosovo BASIC South Initiative – Campagna per la riforma della Banca Mondiale (Italy) – Friends of the Earth U.S. – groundWork (South Africa) – International Rivers – Oil Change International – Sierra Club (U.S.) – Urgewald...
Continue reading 'Civil Society to World Bank: Clean Up Dirty Energy Financing'.
- Written by Ross Hammond Residents of Cleveland and Buffalo (where I grew up) might be forgiven if they were not terribly excited about the prospect of having oil rigs off the shores of their fair cities. But according to Supercommittee member Senator Pat Toomey of Pennsylvania, drilling for oil in Lake Erie might just be...
Continue reading 'Pat Toomey: Drill-Baby-Drill, Even in Lake Erie'.
- Written by Ross Hammond There may be no better example of the corrupting influence of Dirty Energy Money in the current Congress than Supercommittee member Representative Fred Upton of Michigan. In July Upton warned of the dangers of private lobbying organizations and special interests “operating in an increasingly competitive lobbying realm in Washington—a world where...
Continue reading 'Fred Upton: Dirty Energy’s BFF on the Supercommittee'.
- Written by Ross Hammond When it comes to government handouts to the fossil fuel industry, one of the more intractable members of the Supercommittee appears to be Senator Jon Kyl of Arizona, who voted in both 2010 and 2011 to continue to give our tax money to Big Oil. Senator Kyl made a name for...
Continue reading 'Factual Statement: Big Oil Gets Billions Each Year in Government Handouts'.
- Story of Stuff’s latest film – Story of Broke – is now here! And guess what? It’s all about subsidies – and how we can shift our taxpayer money away from the dinosaur economy and towards a clean, bright future! Check it out! And then take action!
- The 12 members of the Joint Select Committee on Deficit Reduction, or “supercommittee,” have received at least $4.2 million in campaign contributions from dirty energy interests lobbying to keep their wasteful taxpayer subsidies, according to a new report from Oil Change International (OCI) and Public Campaign Action Fund (PCAF). The report analyzes the millions of...
Continue reading 'Payback Time? The Supercommittee & Fossil Fuel Subsidies'.
- Finally a new report, released by the Organization for Economic Cooperation and Development (OCED), begins to quantify how much rich nations—and taxpayers—are supporting fossil-fuel production and consumption. The numbers are staggering. During each of the last five years, between US$ 45 billion and US$ 75 billion in budgetary support and tax expenditures have been provided...
Continue reading 'It’s Time for Reform: Fossil Fuel Subsidies in Rich Nations are Staggering'.
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