SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Special Presidential Envoy for Climate John Kerry listens as President Joe Biden speaks on tackling climate change in the State Dining Room of the White House in Washington, D.C. on January 27, 2021. (Photo: Mandel Ngan/AFP via Getty Images)
Denouncing 'Handouts to Big Oil,' Biden Calls on Congress to End $40 Billion in Taxpayer Subsidies for Fossil Fuels
"Biden campaigned on eliminating fossil fuel giveaways, and voters agree by a huge margin," said one climate activist.
Jan 26, 2021
In a speech Wednesday outlining his new executive actions aimed at confronting the "existential threat" of the climate crisis, President Joe Biden said he plans to ask the Democrat-controlled Congress to pass legislation eliminating the tens of billions in taxpayer subsidies the federal government continues to hand Big Oil even as the planetary emergency wreaks havoc in the U.S. and across the globe.
"Unlike previous administrations, I don't think the federal government should give handouts to Big Oil to the tune of $40 billion in fossil fuel subsidies," said Biden. "I'm gonna be going to the Congress and asking them to eliminate those subsidies."
While the president did not offer specifics on what he would want a potential bill to look like, Rep. Ilhan Omar (D-Minn.), Sen. Bernie Sanders (I-Vt.), and other progressive lawmakers introduced legislation last year that proposed ending direct federal subsidies to the fossil fuel industry and "abolishing dozens of tax loopholes, subsidies, and other special interest giveaways littered throughout the federal tax code."
The lawmakers estimated the End Polluter Welfare Act would save taxpayers up to $150 billion over the next decade.
Watch Biden's remarks:
Biden's call for legislative action on fossil fuel subsidies came just before he signed an executive order that, according to a White House summary, "directs federal agencies to eliminate fossil fuel subsidies as consistent with applicable law"--a move that would not touch handouts mandated by Congress.
In a series of tweets Wednesday, Alex Doukas of Oil Change International (OCI) argued that Biden's new executive actions and remarks on climate "could set the stage for a massive shift away from public handouts to the fossil fuel industry--not only in the U.S., but around the world."
\u201cBiden's Executive Order and statements today could set the stage for a MASSIVE shift away from public handouts to the fossil fuel industry - not only in the US, but around the world. \n\nThread \ud83e\uddf5\ud83d\udc47\u201d— Alex Doukas (@Alex Doukas) 1611776829
Collin Rees, senior campaigner at OCI, said in a statement Wednesday that "directing federal agencies to eliminate fossil fuel subsidies where they are able to is a welcome shift from a Trump administration that spent four years doubling down to massive giveaways to oil, gas, and coal."
"Biden campaigned on eliminating fossil fuel giveaways, and voters agree by a huge margin," said Rees. "Taking the climate crisis seriously means prioritizing clean energy and investing in an equitable transition, not propping up an industry destroying the climate and abandoning its workers."
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
In a speech Wednesday outlining his new executive actions aimed at confronting the "existential threat" of the climate crisis, President Joe Biden said he plans to ask the Democrat-controlled Congress to pass legislation eliminating the tens of billions in taxpayer subsidies the federal government continues to hand Big Oil even as the planetary emergency wreaks havoc in the U.S. and across the globe.
"Unlike previous administrations, I don't think the federal government should give handouts to Big Oil to the tune of $40 billion in fossil fuel subsidies," said Biden. "I'm gonna be going to the Congress and asking them to eliminate those subsidies."
While the president did not offer specifics on what he would want a potential bill to look like, Rep. Ilhan Omar (D-Minn.), Sen. Bernie Sanders (I-Vt.), and other progressive lawmakers introduced legislation last year that proposed ending direct federal subsidies to the fossil fuel industry and "abolishing dozens of tax loopholes, subsidies, and other special interest giveaways littered throughout the federal tax code."
The lawmakers estimated the End Polluter Welfare Act would save taxpayers up to $150 billion over the next decade.
Watch Biden's remarks:
Biden's call for legislative action on fossil fuel subsidies came just before he signed an executive order that, according to a White House summary, "directs federal agencies to eliminate fossil fuel subsidies as consistent with applicable law"--a move that would not touch handouts mandated by Congress.
In a series of tweets Wednesday, Alex Doukas of Oil Change International (OCI) argued that Biden's new executive actions and remarks on climate "could set the stage for a massive shift away from public handouts to the fossil fuel industry--not only in the U.S., but around the world."
\u201cBiden's Executive Order and statements today could set the stage for a MASSIVE shift away from public handouts to the fossil fuel industry - not only in the US, but around the world. \n\nThread \ud83e\uddf5\ud83d\udc47\u201d— Alex Doukas (@Alex Doukas) 1611776829
Collin Rees, senior campaigner at OCI, said in a statement Wednesday that "directing federal agencies to eliminate fossil fuel subsidies where they are able to is a welcome shift from a Trump administration that spent four years doubling down to massive giveaways to oil, gas, and coal."
"Biden campaigned on eliminating fossil fuel giveaways, and voters agree by a huge margin," said Rees. "Taking the climate crisis seriously means prioritizing clean energy and investing in an equitable transition, not propping up an industry destroying the climate and abandoning its workers."
In a speech Wednesday outlining his new executive actions aimed at confronting the "existential threat" of the climate crisis, President Joe Biden said he plans to ask the Democrat-controlled Congress to pass legislation eliminating the tens of billions in taxpayer subsidies the federal government continues to hand Big Oil even as the planetary emergency wreaks havoc in the U.S. and across the globe.
"Unlike previous administrations, I don't think the federal government should give handouts to Big Oil to the tune of $40 billion in fossil fuel subsidies," said Biden. "I'm gonna be going to the Congress and asking them to eliminate those subsidies."
While the president did not offer specifics on what he would want a potential bill to look like, Rep. Ilhan Omar (D-Minn.), Sen. Bernie Sanders (I-Vt.), and other progressive lawmakers introduced legislation last year that proposed ending direct federal subsidies to the fossil fuel industry and "abolishing dozens of tax loopholes, subsidies, and other special interest giveaways littered throughout the federal tax code."
The lawmakers estimated the End Polluter Welfare Act would save taxpayers up to $150 billion over the next decade.
Watch Biden's remarks:
Biden's call for legislative action on fossil fuel subsidies came just before he signed an executive order that, according to a White House summary, "directs federal agencies to eliminate fossil fuel subsidies as consistent with applicable law"--a move that would not touch handouts mandated by Congress.
In a series of tweets Wednesday, Alex Doukas of Oil Change International (OCI) argued that Biden's new executive actions and remarks on climate "could set the stage for a massive shift away from public handouts to the fossil fuel industry--not only in the U.S., but around the world."
\u201cBiden's Executive Order and statements today could set the stage for a MASSIVE shift away from public handouts to the fossil fuel industry - not only in the US, but around the world. \n\nThread \ud83e\uddf5\ud83d\udc47\u201d— Alex Doukas (@Alex Doukas) 1611776829
Collin Rees, senior campaigner at OCI, said in a statement Wednesday that "directing federal agencies to eliminate fossil fuel subsidies where they are able to is a welcome shift from a Trump administration that spent four years doubling down to massive giveaways to oil, gas, and coal."
"Biden campaigned on eliminating fossil fuel giveaways, and voters agree by a huge margin," said Rees. "Taking the climate crisis seriously means prioritizing clean energy and investing in an equitable transition, not propping up an industry destroying the climate and abandoning its workers."
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.