Communities in Houston, Florida, Louisiana, Puerto Rico, and California are just beginning the long road to recovery from disasters made worse by climate change. It would seem downright irresponsible to increase taxpayer handouts to spur fossil fuel production at a time like this. But that’s exactly what’s being proposed in Washington.
A new report out today reveals that U.S. taxpayers continue to foot the bill for more than $20 billion in fossil fuel subsidies each year. These subsidies amount to billions of dollars wasted to prop up an industry responsible for a climate crisis that has contributed to lives lost and hundreds of billions in damages this hurricane season alone.
A new report by Oil Change International reveals that U.S. taxpayers continue to foot the bill for more than $20 billion in fossil fuel subsidies each year. Every dollar spent subsidizing this industry takes us further away from achieving internationally agreed emissions goals, and maintaining a stable climate.
The clean energy picture got a little bit brighter in Canada last week, after the 2017 budget started chipping away at the $1.6 billion in federal subsidies to oil and gas companies each year.
Today’s budget missed the opportunity to make meaningful cuts to wasteful handouts to some of the wealthiest, most polluting fossil fuel companies on the planet.
We’re hopeful that the Minister Morneau and the Trudeau government will live up to their promises, listen to the many Canadians demanding action, and stop funding fossils.
Response to UK Budget 2016
Dispelling myths about North Sea oil taxes, jobs, profits and climate
While a reasonable new fee on oil to fund much needed transportation improvements may be a bridge too far for those who take their marching orders from Big Oil, we hope Congress might finally consider eliminating wasteful government spending in the form of fossil fuel subsidies at the very least.