The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: RetiredNow who wrote (261244)	7/15/2010 5:34:32 PM
From: RetiredNow	Read Replies (2) of 306849

Subsidizing Fossil Fuels: $72 billion (vs $29 billion) ritholtz.com I’m a gearhead. I like the sound a V8 or V12 makes when I mash down my right foot and those pretty butterflies open up. But I am not unaware of the external costs of my hobbies. Which is why I found this research piece, titled Energy Subsidies Favor Fossil Fuels Over Renewables, rather interesting. It turns out, according tho this one analysis, that the vast majority of federal energy subsidies are for fossil fuels rather than to renewables or new alternative technologies: $72 billion vs $29 billion over the same period. (These are direct subsidies, tax breaks, etc., and do not include things like the military budget). The question I have is given how wealthy Oil and natural gas firms are, why on earth are we subsidizing them at all?

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