Monday, February 13, 2012

Fossil-Fuels: USD billions in direct subsidy

Unearthing the True Cost of Fossil Fuels : TreeHugger: "Experts believe that oil companies alone receive $10-40 billion in handouts yearly. A conservative study from the Environmental Law Institute found that from 2002-2008, oil companies received $72 billion of taxpayer’s hard-earned cash. Another report from Management Information Systems, Inc found that between 1950 and 2010, $594 billion was spent directly subsidizing fossil fuels—and the lion’s share of that, almost two thirds, went to the oil industry. Coal, too, receives billions of dollars in annual federal handouts."

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