AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
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.
[ILLUSTRATION OMITTED]
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.