What Does $8 Billion in Oil Subsidies Buy?

The fiscal cliff is fast approaching — and there’s a relatively simple way for Congress to raise some needed revenues, help the environment and satisfy taxpayers:  Ending oil subsidies will help pay down the deficit by making oil companies pay their fair share.

The President has already identified $4 billion in oil subsidies that should be eliminated, but there’s at least an additional $4 billion worth that Congress should also get rid of.  This is hardly the time to be throwing taxpayer money at wealthy companies that undermine the environment.

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For more information on clean vs. dirty energy please see NRDC Executive Direcor Peter Lehner’s views here.


About the Authors

Franz Matzner

Director, Beyond Oil Initiative

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