Bill McKibben, How You Subsidize the Energy Giants to Wreck the Planet
Along with fivedollaragallongas, the energy watchword for the next few months is: subsidies. Last week, for instance, New Jersey Senator Robert Menendez 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 wont be surprised to learn that even then it didnt 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 hes also promising to drill everywhere. And later this month Vermont Senator Bernie Sanders will introduce a much more comprehensive bill that tackles all fossil fuels and their purveyors (and has no chance whatsoever of passing this Congress).
Whether or not the bill passes, those subsidies are worth focusing on. After all, were talking at least $10 billion in freebies and, depending on what you count, possibly as much as $40 billion annually in freebie cash for an energy industry already making historic profits. If attacking them is a convenient way for the White House to deflect public anger over rising gas prices, it is also a perfect fit for the new worldview the Occupy movement has been teaching Americans. (Not to mention, if you think about it, the Tea Party focus on deficits.) So count on one thing: well be hearing a lot more about them this year.
http://www.tomdispatch.com/archive/175525/
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