"That is a trivial amount of money compared with what we spend on renewables"
LMAO.
No...
All energy production in the U.S. receives significant federal support, dating back to the first oil subsidies in early 20th century. Here are the facts on energy subsidies:
- In cumulative dollar amounts, over the lifetimes of their respective subsidies, the oil, coal, gas and nuclear industries have received approximately $630 billion in U.S. government subsidies, while wind, solar, biofuels and other renewable sectors have received a total of roughly $50 billion in government investments. (DBL Investors, bit.ly
- The federal government has subsidized traditional energy technologies for more than 60 years before supporting renewable energy. A recent Congressional Budget Office (CBO) report notes: “From 1916 to the 1970s, federal energy-related tax policy focused almost exclusively on increasing the production of domestic oil and natural gas; there were no tax incentives for promoting renewable energy or increasing energy efficiency.” (Source: CBO, 1.usa.gov
- Tax preferences for traditional energy outweighed those for renewable energy through 2007. “[T]ax preferences for fossil fuels continued to make up the bulk of all energy-related tax incentives through 2007, typically accounting for more than two-thirds of the total cost.” (Source: CBO, 1.usa.gov
- To put this in perspective, consider a recent, comprehensive study from venture capital firm DBL Investors that found that the “federal commitment to [oil and gas] was five times greater than the federal commitment to renewables during the first 15 years of each subsidy’s life, and it was more than 10 times greater for nuclear.” (DBL Investors, bit.ly
- According to a 2012 study from the Worldwatch Institute (WWI), global energy subsidies total between $775 billion and more than $1 trillion in 2012, while renewables clocked in at around $66 billion in 2010. (WWI, bit.ly
- Renewable energy investments are working. The cost of renewable energy has dropped dramatically since the 1970s, with the greatest improvements occurring in the past 5-10 years. The average price of a solar panel has declined by 47% since the beginning of 2011. Wind energy has fallen over 90% since incentives for wind began in the 1980s, and attracted an average annual private investment of $15 billion for the past five years. (Sources: Solar Energy Industries Association, seia.us; American Wind Energy Association, bit.ly
- A recent Wall Street Journal editorial repeated a common line in the discussion on energy subsidies: “Why not eliminate all federal energy subsidies?” To do this, the government would need to eliminate approximately $111 billion over the next ten years in traditional energy subsidies, on top of eliminating provisions for renewable energy. (Source: Organization for Economic Cooperation and Development, bit.ly
- A 2011 Wall Street Journal/NBC poll found that 74% of Americans support “eliminating tax credits for the oil and gas industries” in order to “reduce the current federal budget deficit.” (Source: Wall Street Journal, on.wsj.com
- By contrast, the 2012 United Technologies/National Journal Congressional Connection poll found that “almost two-thirds—64 percent—of those surveyed said that Congress should extend federal tax credits that encourage production of alternative-energy sources.” (Source: National Journal, bit.ly
energyfactcheck.org
"I really don't see what your problem is given that you cannot conceivably run a country (at least in a secure manner) on renewables alone."
Not today.
COPENHAGEN — Denmark, a tiny country on the northern fringe of Europe, is pursuing the world’s most ambitious policy against climate change. It aims to end the burning of fossil fuels in any form by 2050 — not just in electricity production, as some other countries hope to do, but in transportation as well.
nytimes.com
Samso: World's First 100 Percent Renewable Energy-Powered Island Is a Beacon for Sustainable Communities
Posted: 05/13/2014 3:57 pm EDT Updated: 07/12/2014 5:59 am EDT
huffingtonpost.com |
