Americans United for Change hailed the proposed fiscal year 2015 budget – highlighting the repeal of more than four-billion dollars a year in tax subsidies to oil, gas and other fossil fuel producers. Americans United for Change Executive Director Caren Benjamin says pointless subsidies for big oil shortchange investment in cleaner burning, cheaper renewable fuels of the future. To be consistent with the President’s budget – Benjamin says the Environmental Protection Agency should reconsider its plan to give a back door subsidy to Big Oil by gutting the Renewable Fuel Standard. Benjamin says that proposal runs counter to the President’s strategy to address climate change by supporting clean energy because a weak RFS means less incentive for innovation in cleaner burning, next generation renewable fuels and guarantees a greater use of fossil fuels.
Here is the excerpt from the White House FY 2015 budget blueprint Americans United for Change called a big win for taxpayers and consumers:
“Eliminates Unnecessary Fossil Fuel Subsidies. As the Nation continues to pursue clean energy technologies that will support future economic growth, it should not devote scarce resources to subsidizing the use of fossil fuels produced by some of the largest, most profitable companies in the world. That is why the Budget proposes to eliminate unnecessary fossil fuel subsidies that impede investment in clean energy sources and undermine efforts to address the threat of climate change. In total, the Budget would repeal over $4 billion per year in tax subsidies to oil, gas, and other fossil fuel producers.”