U.S. Fossil-Fuel Subsidies Twice That of Renewables (during Bush years)

[jpak]

http://www.bloomberg.com/apps/news?pid=20601103&sid=a2ygdsSj.KQI

Sept. 18 (Bloomberg) -- Fossil fuels including oil, natural gas and coal received more than twice the level of subsidies that renewable energy sources got from the U.S. government in fiscal 2002 through 2008, the Environmental Law Institute said.

Government spending and tax breaks amounted to $72.5 billion for fossil fuels and $29 billion for renewable energy, according to a report by the institute today.

“With climate change and energy legislation pending on Capitol Hill, our research suggests that more attention needs to be given to the existing perverse incentives for ‘dirty’ fuels in the U.S. tax code,” said John Pendergrass, a lawyer for the institute.

President Barack Obama has called for the U.S. to reduce oil dependence by promoting efficiency measures and investing in alternative energy supplies. The $787 billion stimulus package signed in February included more than $60 billion for reducing energy use and supporting renewable programs.

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[NNadir]

1. You mean the renewables industry got $29 billion in subsidies and still managed to be

pathetic and useless?

That's amazing.

[joshcryer]

2. Stark contrast to the nuclear industry that got billions and grew only .2%.

58% of all energy R&D. .2%