New report breaks down public cost of supporting oil and coal
The as-yet barely checked use of fossil fuels is rapidly disrupting the global climate and to add insult to injury, taxpayers around the world are supporting the damage with huge subsidies, as well as tax breaks and loopholes.
Reporting by Energy Information Administration tilts the playing field against renewables
By Summit Voice
SUMMIT COUNTY — A new federal report on energy subsidies is skewed in favor of fossil fuel and nuclear power, according to watchdog group that performed its own analysis to show the true scope of taxpayer funds going to oil companies, coal-burning power plants and nuclear reactors.
Consistently under-reporting direct and indirect federal subsidies to the nuclear and fossil fuel industries enables those industries to tout how much cheaper they are than renewable energy sources, according to the Union of Concerned Scientists.
“Thanks to reporting omissions, the nation’s most highly subsidized, polluting industries will be able to use the Energy Information Administration’s flawed analysis to claim they receive far fewer subsidies than emerging, clean energy technologies,” said Ellen Vancko, manager of the UCS Nuclear Energy and Climate Change Project. “Recent independent analyses show that nothing could be further from the truth.”