So you tell us what to do DemocratsPosted By Mel Maki |
Nancy Schumer could make them greedy bastards behave. Who needs these robber barons!Originally Posted by Rod Kaufman
Coal, oil, and natural gas received $5.9 trillion in subsidies in 2020 — or roughly $11 million every minute — according to a new analysis from the International Monetary Fund."
"Explicit subsidies accounted for only 8 percent of the total. The remaining 92 percent were implicit subsidies, which took the form of tax breaks or, to a much larger degree, health and environmental damages that were not priced into the cost of fossil fuels, according to the analysis."
https://e360.yale.edu/digest/fossil-fuels-received-5-9-trillion-in-subsidies-in-2020-report-finds#:~:text=Fossil%20Fuels%20Received%20%245.9%20Trillion%20In%20Subsidies%20in%202020%2C%20Report%20Finds,-An%20open%2Dpit&text=Coal%2C%20oil%2C%20and%20natural%20gas,8%20percent%20of%20the%20total.
"The United States provides a number of tax subsidies to the fossil fuel industry as a means of encouraging domestic energy production. These include both direct subsidies to corporations, as well as other tax benefits to the fossil fuel industry. Conservative estimates put U.S. direct subsidies to the fossil fuel industry at roughly $20 billion per year; with 20 percent currently allocated to coal and 80 percent to natural gas and crude oil. European Union subsidies are estimated to total 55 billion euros annually."
https://www.eesi.org/papers/view/fact-sheet-fossil-fuel-subsidies-a-closer-look-at-tax-breaks-and-societal-costs
So please MEL, stop pleading the poverty argument on behalf of big oil...