Between 2002-2008 the Federal Government supplied the fossil fuel industry with $72 billion in subsidies. While this money helps to keep the cost of the fuels down for consumers, it also makes switching over to renewable energy more difficult. The main drawback for renewable energies is they are not yet cost effective with fossil fuel technologies, but this is due in large part to the subsidies they are competing with. President Obama today announced his goal of ending such subsidies in an effort to move away from fossil fuel usage.
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