The Real Story



FOR IMMEDIATE RELEASE
December 8, 2010

CONTACT
Ellen Carey
202-249-7357
ecarey@awea.org



Rhetoric vs. Reality #2: Energy Subsidies


Rhetoric: Renewable energy is subsidized at higher rates than fossil fuels.

The facts are:

  • Congress has already permanently raised taxes to subsidize fossil fuels for more than 90 years (Congressional Research Service)

  • Congress plans to add another $30 billion of taxpayer money to further subsidize oil, gas and coal over the next few years.

  • Examining the issue under the Bush Administration, the Government Accountability Office concluded that fossil fuels continue to receive nearly 5 times the tax incentives as renewable energy. (GAO, 2007)

  • On top of direct subsidies, fossil fuels cost Americans $120 billion annually in health damages, according to a National Academy of Sciences report commissioned by the Bush Administration. (NAS, 2009)

  • Such strong policy support for fossil fuels during the last century succeeded in its goal: it helped create an abundance of affordable domestic energy, powering strong economic growth. It also created an addiction to fossil fuels. Rising demand and volatile prices have since created a need for more diverse energy supply.

  • American taxpayers have already paid well over $500 billion to fossil fuels industries, causing the nation to become over-reliant on too few energy sources that damage both the environment and the health of Americans, imposing even greater healthcare and economic costs on every one of us.




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