subsidising CO2 emissions

Submitted by antarchi on December 30, 2009 - 22:26
  • Between 2002 - 2008, the US federal government provided substantially larger subsidies to fossil fuels than to renewables. Subsidies to fossil fuels — a mature, developed industry that has enjoyed government support for many years — totaled approximately $72 billion , representing a direct cost to taxpayers.
  • About 98 percent of that went to conventional energy sources, namely coal and oil, leading to more emissions. The rest, $2.3 billion, was pumped into a new technology to trap and store carbon dioxide spewed by coal plants.
  • Subsidies for renewable fuels, a relatively young and developing industry, totaled $29 billion over the same period.
— Environmental Law Institute

Estimating U.S. Government Subsidies to Energy Sources: 2002-2008