As President Barack Obama prepares to release his proposal for the next year’s budget this month, he is expected to call for eliminating $4 billion per year in subsidies to the oil industry. This is money that could be re-channeled into spurring clean energy development, reducing the deficit, and paying for basic government services during hard economic times. This common sense proposal should logically
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oil subsidies
Of all the lousy things fossil fuels do to our health, finances and national security, add one more: Ideological blindness.
How else can we explain why some otherwise sensible proponents of free markets support huge government subsidies for coal, oil, natural gas and nuclear power?