The best of EcoWatch, right in your inbox. Sign up for our email newsletter!
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.
Email your members of Congress today and tell them to end subsidies for the fossil fuel industry, and protect and strengthen environmental policy.
- Almost $8 billion in annual oil subsidies: average cost of multiple tax provisions overwhelmingly benefitting the oil and gas industry as estimated by the Joint Committee on Taxation, Congressional Research Service and American Petroleum Institute. See our full fact sheet for a full description of these programs including sources.
- $100 per taxpayer: $7.82 billion divided by 2009 taxable returns filed according to IRS Publication, "Selected Income and Tax Items,” 2011.
- $515 million annual property damage from oil and gas: average total damage 2007-2011 as reported by the U.S. Department of Transportation.
- $50 billion annual health costs: Economic costs of air pollution from petroleum emissions according to the National Academy of Sciences, Hidden Costs of Energy: The Unpriced Costs of Energy Production and Use, 2010.
- 11,000 jobs lost at big 5 oil companies: House Committee on Natural Resources Democratic Staff, Profits and Pink Slips: How Big Oil and Gas Companies Are Not Creating U.S. Jobs or Paying Their Fair Share, Sept 2011.
- $90 billion big 5 oil company profits as of September 2012: Weiss, Daniel J. and Jackie Weidman, How Big Oil Spent Part Of Its $90 Billion In Profits So Far In 2012, Think Progress, 2012.
Visit EcoWatch’s ENERGY page for more related news on this topic.
EcoWatch Daily Newsletter
By Cathy Brown
Most of us have heard about UN researchers warning that we need to make dramatic changes in the next 12 years to limit our risk of extreme heat, drought, floods and poverty caused by climate change. Report after report about a bleak climate future can leave people in despair.
Losing weight, improving heart health and decreasing your chances for metabolic diseases like diabetes may be as simple as cutting back on a handful of Oreos or saying no to a side of fries, according to a new study published in the journal The Lancet Diabetes & Endocrinology.
It's important to remember that one person can make a difference. From teenagers to world-renowned scientists, individuals are inspiring positive shifts around the world. Maybe you won't become a hard-core activist, but this list of people below can inspire simple ways to kickstart better habits. Here are seven people advocating for a better planet.
Scotland produced enough power from wind turbines in the first half of 2019, that it could power Scotland twice over. Put another way, it's enough energy to power all of Scotland and most of Northern England, according to the BBC — an impressive step for the United Kingdom, which pledged to be carbon neutral in 30 years.
By Jessica A. Knoblauch
It's been a particularly terrible summer for bees. Recently, the U.S. Environmental Protection Agency (EPA) announced it is allowing the bee-killing pesticide sulfoxaflor back on the market. And just a few weeks prior, the USDA announced it is suspending data collection for its annual honeybee survey, which tracks honeybee populations across the U.S., providing critical information to farmers and scientists.
tommaso79 / iStock / Getty Images Plus
By Rachel Licker
As a new mom, I've had to think about heat safety in many new ways since pregnant women and young children are among the most vulnerable to extreme heat.