06 Jul '12, 11am

We’re fighting the wrong fights over energy subsidies

This is part four of my interview with Michael Liebreich, head of Bloomberg New Energy Finance. See part one , part two , and part three . Michael Liebrich. Q. Subsidies are in the news. Greens are going after oil subsidies, Republicans (and some Democrats) in Congress are going after clean energy subsidies. Are subsidies worth the ideological battle? A. The issue of subsidies is really, really important, but it needs to be properly thought through. There’s this stuff going on in the U.S. now over $4 billion in subsidies to oil and gas, yet oil and gas is also a huge producer of tax revenue around the world, particularly in Europe, where taxes on oil and gas are much higher. On the enviro left, you have people focusing on one tax break without looking at the big picture of what oil and gas does to an economy. Cheap oil and gas is actually quite good in terms of enabling gr...

Full article: http://grist.org/climate-energy/were-fighting-the-wrong-f...

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