Hi, I'm Denise, and this is your Civic Minute.
The federal government has subsidized oil, gas, and coal for over a century.
How much?
That depends on how you count.
The treasury puts direct tax breaks at a few billion a year.
Independent analysts say that regulatory exemptions put a closer to $35 billion.
And if you factor in the health costs of pollution paid for by Medicare, Medicaid, and you,
some estimates run into the hundreds of billions.
You can argue about which number is right, but here's what's harder to argue with.
The oil and gas industry earned over $250 billion in profits between 2021 and 2023.
In a single good year, they earn more than 10 times what the government gives them.
We've had these subsidies for over 100 years.
The industry that receives them has never been more profitable.
Whether they still make sense is a question worth asking.
That's your Civic Minute.
And more at civicmedia.us.
