Enviros complain of too many government subsidies for Permian Basin developers

Study reveals staggering amount of money that oil, gas, and coal companies  get in government subsidies every single minute


While critics of wind and solar power point out how the government funds those renewable energy sources with billions in subsidies, critics of oil and gas point to government subsidies for the industry.

The latest example of tit for tat studies came from the NRDC or Natural Resources Defense Council which stated documents reveal 57 federal and state subsidies went to the oil and gas industry for exploration and production in the Permian Basin in West Texas and New Mexico. The NRDC contended, in its report “Fossilized Finances: State and Federal Oil and Gas Subsidies in The Permian Basin,” the subsidies not only cost taxpayers billions but worsened climate change and increased harmful air polllution.

“Our report reveals the extensive subsidies totaling billions of dollars that New Mexico, Texas and the federal government give away each year to the fossil fuel industry, perversely driving up further production that fuels dangerous climate impacts and unhealthy air pollution,”said Susan Casey-Lefkowitz, senior strategic adviser at NRDC.

“These subsidies to the profit-rich fossil fuel industry should end now. The money should be redirected to true public priorities such as establishing ‘just transition’ programs for industry workers, or supporting clean energy, education, health care or other goals benefitting people and communities.”

Fossil fuel supporters have made similar claims critical of the Biden administration’s promotion of renewable energy through tons of government subsidies. While some boast of the growth of wind farms and solar farms, critics say it would not happen without the support of the government.

Source: NRDC release