Evergreen policy experts lay out an agenda for President Biden to fulfill his campaign pledge of ending fossil fuel subsidies.
In this January 2021 report, Evergreen Collaborative lays out an agenda for the Biden administration to fulfill the President's campaign pledge of ending subsidies to fossil fuels. The report points out that as of 2017, the United States provided more than $20 billion in direct financial support to fossil fuel companies each year—more than any other G7 country. This number doesn’t nearly capture the full picture, as it does not account for the diverse forms of government support that these corporations enjoy. According to a 2019 report from the International Monetary Fund (IMF), the United States provided as much as $649 billion per year in direct and indirect financial support to the fossil fuel industry. During the pandemic alone, BailoutWatch has found that fossil fuel companies received an additional $110 billion in direct and indirect federal relief.
Evergreen's report suggests three major policy changes on fossil fuel subsidies:
1) End All Funding of Fossil Fuel Corporations: Stop providing direct financial support to fossil fuel companies, as well as other financial incentives that benefit fossil fuel companies
2) End Fossil Fuel Corporations’ Abuse of Public Resources: Stop permitting fossil fuel companies to use and abuse public lands and waters
3) Make Polluters Pay: Stop allowing fossil fuel companies to impose the health and safety costs of their pollution onto the American public.
Evergreen Collaborative is a group of former Gov. Jay Inslee for America staffers and supporters who came together in 2019 on a mission to elect a new president to build support for an all-out national mobilization to defeat the climate crisis and create 8 million jobs in a clean energy economy.