“The fossil fuel industry receives over $20.5 billion in taxpayer dollars every year while fleecing American consumers and driving a global climate crisis,”

https://www.nationofchange.org/2024/09/27/khanna-proposes-ending-billions-in-taxpayer-subsidies-for-big-oil-amid-growing-climate-crisis/
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U.S. Rep. Ro Khanna (D-Calif.) has reintroduced legislation targeting one of the most egregious aspects of fossil fuel policy: billions of dollars in taxpayer subsidies funneled to fossil fuel companies. These subsidies, Khanna argues, are being used to extract even more climate-damaging oil from the earth, fueling environmental destruction and contributing to a worsening global crisis.

Khanna’s bill, the End Polluter Welfare for Enhanced Oil Recovery Act, is aimed squarely at halting these subsidies, specifically targeting the billions in public funds given to companies that use captured carbon dioxide for enhanced oil recovery (EOR)—a process in which CO2 is injected into oil wells to extract more fossil fuels.

“The fossil fuel industry receives over $20.5 billion in taxpayer dollars every year while fleecing American consumers and driving a global climate crisis,” Khanna told Common Dreams in an exclusive interview. “The End Polluter Welfare for Enhanced Oil Recovery Act will eliminate the subsidy for captured carbon used for enhanced oil recovery, which only leads to more fossil fuel extraction and does nothing to mitigate climate change.”
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