Energy and the Federal Budget
02 Feb 10 | CommentaryI remain convinced that subsidizing oil, gas and coal companies to produce cheap energy is the wrong thing to do. The President seems to agree with this position as the 2011 budget has removed about 2.7 Billion Dollars in subsides for those sectors. Some people disagree:
This is the industry pulling in billions of dollars in profits. It is best placed to come up with ways to reduce the carbon intensity of fossil fuels and discover breakthrough technologies.
Because the fossil fuel industry has a record of clean energy investment, oh no wait… Because they strongly believe in climate change, thus have every intention of reducing their own product demand, no, no… Okay, I got it, they have been strongly advocating for the renewable energy sector in congress… Hmmm, I can’t really place my finger on it, perhaps because it is a bunch of BS.
The fossil fuels industries are the last group that a) need a subside, the first sentence from the block quote ably demonstrates that, and b) will do anything to hurt their market share in the US energy market.
I have opined here before, I’d like to see all energy subsides, including solar and wind go away. Let everyone compete in an open market place, let consumers know the real value of the energy they are using. This would greatly increase conservation efforts and spur on the development of renewable energy.
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