Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Friday, March 9, 2012

This Year it is Fossil Fuels Turn to Receive the Majority of DOE Funding

This Year it is Fossil Fuels Turn to Receive the Majority of DOE Funding

The renewable energy and energy efficiency sectors received most of the US federal government’s $24 billion in energy subsidies last year, but fossil fuels will win out this year as several key tax breaks for renewables have expired. Preferential tax treatment accounted for $20.5 billion, or about 85%, of federal support for developing and producing fuel and energy technologies in 2011, while Department of Energy (DOE) spending programmes comprised nearly $3.5 billion, or 15%, according to a report by the non-partisan Congressional Budget…Read more...

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