Dirty Subsidies

PERI’s James Boyce describes how the Trump administration has terminated subsidies for solar and wind energy while increasing subsidies for fossil fuels. Boyce lays out the financial and environmental costs of these policies:

“These billions in cash giveaways [for fossil fuels] do not include the staggering environmental costs of fossil fuels in hazardous air and water pollution and global climate destabilization. These costs, too, are passed onto the public. Counting these as “implicit subsidies,” the International Monetary Fund pegs total U.S. subsidies to fossil fuel companies at more than $750 billion per year.”