Each year, Congress provides between $10 and $52 billion to the oil, gas and coal industries. By any measure these subsidies are huge and wasteful. This graphic highlights the range of estimates of these subsidies, and the urgent need to eliminate them.
A fossil fuel subsidy is any government action that lowers the cost of fossil fuel energy production, raises the price received by energy producers or lowers the price paid by energy consumers. There are a lot of activities under this simple definition—tax breaks and giveaways, but also loans at favorable rates, price controls, purchase requirements and a whole lot of other things.