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Happy Fossil-Fuel Subsidy Day! - Sierra Daily
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Sierra Daily

Apr 18, 2011

Happy Fossil-Fuel Subsidy Day!

While you're sweating out the value of those old shoes you donated to Goodwill for your itemized deductions, spend a moment to consider that Exxon-Mobil, Chevron, Valero, and ConocoPhillips paid no federal taxes last year, and all received substantial refunds or rebates. But rebates are just the froth on the bubbly for Dirty Energy. Here's the ugly picture of how taxpayers subsidize the fossil-fuel industry, courtesy of the Environmental Law Institute:

GR_GraficFIN-web 
Yeah, you read that right: For the period from 2002 to 2008, Dirty Energy scarfed up $53.9 billion in tax breaks, with total federal subsidies totaling $70.2 billion.

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--Paul Rauber

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