Post by RichA
Don't forget Buffalo's "SolarCity" which has received $750 MILLION and is virtually dormant.
1. Evergreen Solar ($25 million)*
2. SpectraWatt ($500,000)*
3. Solyndra ($535 million)*
4. Beacon Power ($43 million)*
5. Nevada Geothermal ($98.5 million)
6. SunPower ($1.2 billion)
7. First Solar ($1.46 billion)
8. Babcock and Brown ($178 million)
9. EnerDel's subsidiary Ener1 ($118.5 million)*
10. Amonix ($5.9 million)
11. Fisker Automotive ($529 million)
12. Abound Solar ($400 million)*
13. A123 Systems ($279 million)*
14. Willard and Kelsey Solar Group ($700,981)*
15. Johnson Controls ($299 million)
16. Brightsource ($1.6 billion)
17. ECOtality ($126.2 million)
18. Raser Technologies ($33 million)*
19. Energy Conversion Devices ($13.3 million)*
20. Mountain Plaza, Inc. ($2 million)*
21. Olsen's Crop Service and Olsen's Mills Acquisition Company ($10M)*
22. Range Fuels ($80 million)*
23. Thompson River Power ($6.5 million)*
24. Stirling Energy Systems ($7 million)*
25. Azure Dynamics ($5.4 million)*
26. GreenVolts ($500,000)
27. Vestas ($50 million)
28. LG Chem's subsidiary Compact Power ($151 million)
29. Nordic Windpower ($16 million)*
30. Navistar ($39 million)
31. Satcon ($3 million)*
32. Konarka Technologies Inc. ($20 million)*
33. Mascoma Corp. ($100 million)
* denotes companies that have filed for bankruptcy as of 2014
US fossil fuel production is subsidized to the tune of $20 billion annually
Researchers at Oil Change International (OCI) set out to quantify the
level of US fossil fuel subsidies, but before we get to their results, a
few important caveats.
OCI is only counting direct production subsidies. As they acknowledge,
that leaves out a great deal.
For one thing, it leaves out the annual $14.5 billion in consumption
subsidies — things like the Low Income Home Energy Assistance Program
(LIHEAP), which helps lower-income residents pay their (fuel oil)
heating bills. (There are better ways to help poor people, but let’s
leave that aside for now.)
It also leaves out subsidies for overseas fossil fuel projects ($2.1
billion a year).
Most significantly, OCI’s analysis leaves out indirect subsidies —
things like the money the US military spends to protect oil shipping
routes, or the unpaid costs of health and climate impacts from burning
fossil fuels. These indirect subsidies reach to the hundreds of
billions, dwarfing direct subsidies — the IMF says that, globally
speaking, they amount to $5.3 trillion a year. But they are
controversial and very difficult to measure precisely.
Finally, OCI acknowledges that its estimates of state-level subsidies
are probably low, since many states don’t report the costs of tax
expenditures (i.e., tax breaks and credits to industry), so data is
difficult to come by.
All of which is to say: OCI has produced about the most conservative
possible estimate of the subsidies received by fossil fuels in the US.
These are solely production subsidies — taxpayer money that goes
directly to producing more fossil fuels.
So what’s the verdict?
Adding everything up: $14.7 billion in federal subsidies and $5.8
billion in state-level incentives, for a total of $20.5 billion annually
in corporate welfare.
Of that total, 80 percent goes to oil and gas, 20 percent to coal.