Earth Track is pleased to release A Review of Fossil Fuel Subsidies in Colorado, Kentucky, Louisiana, Oklahoma, and Wyoming. The report documents hundreds of subsidies to established fossil fuel industries and fossil fuel consumers in five U.S. states. Many of these policies have contributed to environmental damage, energy market distortions, and fiscal shortfalls.
Kudos to Sierra Club and Synapse Energy Economics for taking a look at coal subsidies. In a report released yesterday, the authors highlight the disparity between Administration goals to cut greenhouse gases and continued federal policies that subsidize coal.
While subsidies to fossil fuels are thankfully getting increasing attention, even at the level of the G20 (see paragraphs 24-26 of the link), subsidies to a variety of environmentally harmful activities are pervasive at lower levels of government as well. An Earth Track review of state-level subsidies to biofuels in the United States, for example, found roughly 200 state and local prog
Rapid and dramatic changes in the world’s approach to energy have major implications for Kentucky and its coal industry. Concerns about climate change are driving policy that favors cleaner energy sources and increases the price of fossil fuels. The transition to sustainable forms of energy is becoming a major economic driver, and states are moving aggressively to develop, produce and install the energy technologies of the future. Long reliant on coal for jobs and electricity, Kentucky faces major challenges and difficult choices in the coming years.