About the Post

Author Information

A Running Leap off the Green Energy Cliff

California’s Path to Bankruptcy

Keith Kohl — Energy & Capital — January 4, 2013

We’ve been watching our government stick its fingers in the energy pie for decades now…

Oil and gas subsidies go back nearly a century. We’ve doled out an average of $4 billion to them every year since.

These incentives include a variety of things like tax credits, write-offs, and royalty reductions.

While $4 billion may not be a drop in the bucket, it’s going to a place that supplies more than 80% of our energy consumption. Oil absolutely dominates our transportation sector today, while coal and natural gas combined supply two-thirds of our country’s electric power.

To put things in perspective, $4 billion for oil seems like a bargain when you consider Uncle Sam dished out $16 billion to the renewable sector in 2011…

But we can’t begrudge green energy for needing a little boost, can we?

Without those handouts, some of those renewable sectors would would simply collapse (and we’ll touch more on this in just a minute).

Follow the Leader… Right Off the Cliff  (to continue reading, click here)

Tags: , , , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: