24 Jun '11, 3pm

Do Energy Subsidies Make Green Sense?

Do Energy Subsidies Make Green Sense?

What would happen if the government eliminated all subsidies for the energy industry? It's a radical notion, but an overwhelming vote by the Senate last week to e eliminate billions of dollars in support for the U.S. ethanol industry sent a strong message that the era of big taxpayer support for biofuels is ending , Reuters reported. Given that about $1.3 trillion of this year's $3.5 billion federal budget is being borrowed -- and must ultimately be paid by future taxpayers -- Congress may take a hard look at the vast array of tax breaks, tax credits, loan guarantees and liability protections that flow to virtually every segment of the energy industry. As well it should. Energy industry leaders howl every time anyone wants to take any of their subsidies away. But as Adam Smith once wrote (and I love this quote)… The proposal of any new law or regulation which comes from [b...

Full article: http://www.greenbiz.com/blog/2011/06/24/do-energy-subsidi...

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