Obama on Clean Energy: Actions Speak

Center for Progressive Reform 2012-11-30

Summary:

Cross-posted from Environmental Law Prof Blog. Unlike climate change, clean energy policy has received a fair bit of attention in the presidential campaign. Obama made clear that he supports renewable energy as part of his "all of the above" approach, while Romney would end an important federal subsidy for wind power and otherwise increase reliance on coal, oil and gas. But for those who are disappointed that Obama didn't say more about our need to transition away from fossil fuel and towards renewables, remember the old adages "actions speak louder than words" and "put your money where your mouth is." Here are some facts about Obama's actions and expenditures: First, we must recall that subsidies for fossil fuels have been a fixture in US energy policy. As discussed in a recent report by venture capital firm DBL Investors, these subsidies have come in many forms including direct payments and preferential loans; favorable tax treatment; and government investment in R&D and infrastructure. Coal mining companies have enjoyed generous tax treatment since the early 1930s, and the government's investment in geological surveys and railroads also greatly facilitated coal-fired electricity. Natural gas combustion technology benefited from billions of dollars worth of jet engine technology research funded by the Department of Defense research. The report finds that, in total, the oil and gas industries received about $350 billion in subsidies between 1918 and 2009.

Link:

http://www.progressivereform.org/CPRBlog.cfm?idBlog=C2585ED7-DE06-17B8-C58C984DF2D9B145

From feeds:

Berkeley Law Library -- Reference & Research Services ยป Center for Progressive Reform

Tags:

Authors:

Lesley McAllister

Date tagged:

11/30/2012, 20:40

Date published:

11/02/2012, 15:20