The Energy Subsidy Tally
Zooming out for all energy, the Congressional Research Service did its own analysis of tax incentives last year. It found that in 2009 fossil fuels accounted for 78% of U.S. energy production but received only 12.6% of tax incentives. Renewables accounted for 11% of energy production but received 77% of the tax subsidies—and that understates the figure because it leaves out direct spending.
August 18, 2012
in Wall Street Journal
Wind and solar get the most taxpayer help for the least production.
President Obama traveled to Iowa Tuesday and touted wind energy subsidies as the path to economic recovery. Then he attacked Mitt Romney as a tool of the oil and gas industry. "So my attitude is let's stop giving taxpayer subsidies to oil companies that don't need them, and let's invest in clean energy that will put people back to work right here in Iowa," he said. "That's a choice in this election."
There certainly is a subsidy choice in the election, but the facts are a lot different... [continue via Web link]