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
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?