It does. According to a report by the Environmental Law Institute, the fossil fuel industry received $72.2 billion in government subsidies between 2002 and 2008. For comparison, the renewable energy industry received $29 billion during the same period.
President Obama’s 2011 budget plans to do away with $36.5 billion in tax breaks for the oil and natural gas industries and $2.3 billion for the coal industry. Unfortunately, the powerful energy lobby may keep this from happening.
The Environmental Law Institute’s report is available for free online:
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