Posted at Hartmann Report on May. 12, 2022
Why are Americans Subsidizing Our Own Extinction?
To stop our climate-change-driven suicide, Congress must stop allowing oil exports, end subsidies to the fossil fuel industry, and promote clean American energy.
Each American — man, woman and child — paid around $2000 last year to subsidize the fossil fuel industry, according to an analysis this year by the International Monetary Fund (IMF).
Worldwide, the fossil fuel industry’s lobbying power has gotten it about $6 trillion a year in subsidies; America’s $600 billion a year gift to the energy barons pours cash into this massively profitable industry at the rate of a million dollars a minute.
We’re funding our own suicide: the world’s largest fossil fuel companies right now have drilling and mining operations underway that, if completed, will push the world well past a catastrophic 2.7 degrees Celsius, the level that some scientists estimate could lead to a dinosaur-level extinction.