Believe it or not, back before the government shutdown, before Ted Cruz became a household name, before talks of default, before the "defund Obamacare" chants, there were other issues concerning the 2014 federal budget. Fossil fuels and renewable energy were once part of this discussion.
Let's start with a new report by the International Monetary Fund. It reveals that in 2011 global fossil fuel direct, "pre-tax" subsidies (where governments just hand out money) totaled $480 billion. "Post-tax" subsidies including negative externalities totaled $1.4 trillion, or, a whopping 2 percent of global gross domestic product (GDP). Negative externalities are things that one benefits from at the cost of another, and those that benefit don't have to compensate those that lost. These damages are sometimes called the social cost of fossil fuels. These costs are paid by our environment and health resulting from the spills, the fires, the air and water contamination, and the disease caused by extracting and burning dirty fuels. The United States led the world in pre and post-tax totals, with a total $502 billion in subsidies. This is followed by China at $209 billion. Again, at least (I say least because some, like David Roberts over at grist.org take it a step further, here.) 2 percent of global GDP is dedicated to propping up dirty fuels.
President Obama has stated, "As we continue to pursue clean energy technologies that will support future economic growth, we should not devote scarce resources to subsidizing the use of fossil fuels produced by some of the largest, most profitable companies in the world." He subsequently looked to repeal over $4 billion in direct subsidies for these companies.