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The hidden price you pay for energy.(View point)

Consumer Reports

| August 01, 2008 | COPYRIGHT 2008 Consumers Union of the United States, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Yes, we're shelling out more at the pump and paying ever-higher cooling and heating bills. But those prices aren't anywhere close to what we actually pay.

The U.S. government supports the oil industry with billions of dollars in direct and indirect subsidies. Over the past 50 years, federal subsidies for fossil fuels (coal, oil, and natural gas) and nuclear power were 12 times what they were for renewable energy sources such as wind, solar, and biofuels.

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Those subsidies have included income tax breaks, tax-free construction bonds, and below-cost loans with lenient repayment terms.

The U.S. is sponsoring a cheap ride for carbon polluters instead of investing in new energy technologies.

UNSEEN COSTS

The greatest price we pay might be the health and environmental effects of emitting millions of tons of carbon into the atmosphere.

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