COOL IT!
According to FoE US, the United States
can curb global warming simply by cutting
back on subsidies for industries that
release dangerous greenhouse gases. FoE's
Cool It!
report uncovers 11
subsidies to the coal, oil and gas, and
automobile industries that encourage
greenhouse gas pollution. Eliminating these
subsidies could help to prevent ecological
disaster and would provide more than US$10
billion for solutions. These savings could
be used to promote cleaner energy and to
help workers and communities adjust to the
economic changes that reducing pollution
may cause.
For example, cutting tax exemptions for
'gas guzzling' mini-vans and trucks could
save US$1,100 million. And getting rid of
the Coal Research and Development and the
Petroleum Research and Development
programmes would return $500 million and
$250 million respectively to the public
coffers.
Subsidies to the oil, coal and
automobile industries are obsolete. Many of
them were instituted decades ago during
wartime or economic depression to foster
increased resource use and economic
development. These mature industries no
longer need government assistance, but
still actively defend their subsidies.
Energy subsidies hurt the environment,
drain taxpayer money, and hinder businesses
using newer, cleaner technologies. So why
do they continue? Many of the nation's
largest, most prosperous and influential
corporations - including oil, coal, and
automobile manufacturers - benefit from the
existing subsidies. Often these same
corporations have donated millions of
dollars to political candidates over the
past few years to protect their special
subsidies.
In addition to making political
contributions, a coalition of energy
intensive industries has engaged in a
multi-million dollar campaign to distort
the scientific evidence of global warming
under the auspices of the Global Climate
Coalition. From the corporate point of
view, the millions spent on politicians and
resisting action on climate change is a
good investment if they can protect
billions of dollars of subsidies.
FoE United States
