That’s how much taxpayers spend to subsidize the oil and gas industry.
For years, the fossil fuel industry has relied on government subsidies to stay profitable. In fact, taxpayers are spending around $650 billion each year to keep oil and gas companies profitable while our planet suffers the consequences.
Here’s who else pays the price for Big Oil:
- Small business owners pay when an oil spill, like the one here in Orange County, decreases beach tourism.
- Homeowners and local communities pay when climate change causes extreme weather events that damage property.
- Our kids pay the price the longer we put this off. They’ll be the ones left to foot the bill to deal with climate change, and the longer we wait, the more expensive it will be to deal with.
Katie’s congressional subcommittee recently produced a report that found these subsidies for oil and gas are outdated and a waste of taxpayer dollars. It’s clear that we need to end these subsidies to protect our environment and save taxpayers money, and right now, Congress has a rare chance to end them—and Katie has been fighting to make sure the Build Back Better Act includes real action on climate.
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—Team KP
