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What exactly are all the subsidies that go to fossil fuels? It's always assumed to be true but I just don't see it.

Heliga 5y ago
Billions a year for the last hundred years (or whenever the technology became available). [1] This does not represent all of the subsidies, indirect and direct, nor the huge advantage that fossil fuel industry enjoys with millions to spend on lobbying and purchasing senators, that is, when the senators aren't already getting rich in the fossil fuel industry (see Joe Manchin and every 1 in 4 senators)[2]. [1] https://cen.acs.org/articles/89/i51/Long-History-US-Energy-Subsidies.html https://cen.acs.org/articles/89/i51/Long-History-US-Energy-S... [2] https://www.salon.com/2021/11/07/one-in-four-us-senators-still-hold-fossil-fuel-investments-even-as-world_partner/ https://www.salon.com/2021/11/07/one-in-four-us-senators-sti...
cronix 5y ago
Here's a recent one. Dumping some of the strategic oil reserve into the supply to artificially lower fuel costs, otherwise known as a subsidy (Monetary assistance granted by a government to a person or group in support of an enterprise regarded as being in the public interest). > Today, the President is announcing that the Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply. https://www.whitehouse.gov/briefing-room/statements-releases/2021/11/23/president-biden-announces-release-from-the-strategic-petroleum-reserve-as-part-of-ongoing-efforts-to-lower-prices-and-address-lack-of-supply-around-the-world/ https://www.whitehouse.gov/briefing-room/statements-releases...
- fallingknife 5y ago
  This would be the opposite of a subsidy as it lowers the market price and will actually lower the profits of oil producers.
standardUser 5y ago
Much of the money the US spends to keep carbon emissions flowing full speed is in the form of securing foreign sources of oil. "US spends $81 billion a year to protect global oil supplies, report estimates" https://www.cnbc.com/2018/09/21/us-spends-81-billion-a-year-to-protect-oil-supplies-report-estimates.html https://www.cnbc.com/2018/09/21/us-spends-81-billion-a-year-...

Billions a year for the last hundred years (or whenever the technology became available). [1] This does not represent all of the subsidies, indirect and direct, nor the huge advantage that fossil fuel industry enjoys with millions to spend on lobbying and purchasing senators, that is, when the senators aren't already getting rich in the fossil fuel industry (see Joe Manchin and every 1 in 4 senators)[2]. [1] https://cen.acs.org/articles/89/i51/Long-History-US-Energy-Subsidies.html https://cen.acs.org/articles/89/i51/Long-History-US-Energy-S... [2] https://www.salon.com/2021/11/07/one-in-four-us-senators-still-hold-fossil-fuel-investments-even-as-world_partner/ https://www.salon.com/2021/11/07/one-in-four-us-senators-sti...

cronix 5y ago

Here's a recent one. Dumping some of the strategic oil reserve into the supply to artificially lower fuel costs, otherwise known as a subsidy (Monetary assistance granted by a government to a person or group in support of an enterprise regarded as being in the public interest). > Today, the President is announcing that the Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply. https://www.whitehouse.gov/briefing-room/statements-releases/2021/11/23/president-biden-announces-release-from-the-strategic-petroleum-reserve-as-part-of-ongoing-efforts-to-lower-prices-and-address-lack-of-supply-around-the-world/ https://www.whitehouse.gov/briefing-room/statements-releases...

fallingknife 5y ago
This would be the opposite of a subsidy as it lowers the market price and will actually lower the profits of oil producers.

standardUser 5y ago

Much of the money the US spends to keep carbon emissions flowing full speed is in the form of securing foreign sources of oil. "US spends $81 billion a year to protect global oil supplies, report estimates" https://www.cnbc.com/2018/09/21/us-spends-81-billion-a-year-to-protect-oil-supplies-report-estimates.html https://www.cnbc.com/2018/09/21/us-spends-81-billion-a-year-...