The US Spent Over 70 Billion Between ’02 + ’08 Subsidising Oil + Coal
Oil companies have been posting record profits year-on-year for the past 6 years which makes multi-billion dollar subsidies all the more frustrating.
With many tens of millions spent each year on lobbying in Washington the fossil fuel industry reaped over $70 billion between 2002 and 2008 in both direct spending and tax breaks with only $12.2 billion spent on all forms of renewable energy combined (wind, solar, thermo, hydro).
It makes you wonder how much further ahead we would be on the path towards a 100% renewable power grid if it was receiving the same level of support as oil, coal and gas.
It’s easy for detractors to say “it’s not that easy”, maybe it can be, maybe it should be.
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Via the fantastic team at Good.Is