Subsidies 101: A guide to corporate handouts, and why we shouldn’t stand for them

Grist

Cross-posted from TomDispatch.

Along with “five-dollar-a-gallon-gas,” the energy watchword for the next few months is: “subsidies.” Last week, for instance, Sen. Robert Menendez (D-N.J.) proposed ending some of the billions of dollars in handouts enjoyed by the fossil-fuel industry with a “Repeal Big Oil Tax Subsidies Act.”  It was, in truth, nothing to write home about — a curiously skimpy bill that only targeted oil companies, and just the five richest of them at that. Left out were coal and natural gas, and you won’t be surprised to learn that even then it didn’t pass.

Still, President Obama is now calling for an end to oil subsidies at every stop on his early presidential-campaign-plus-fundraising blitz — even at those stops where he’s also promising to “drill everywhere.” And later this month Sen. Bernie Sanders (Ind-Vt.) will introduce a much more comprehensive bill that tackles all fossil fuels and…

View original post 1,153 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s