Obama’s 2013 budget proposal is out and aside from some increases in support for many of the renewable energy programs the DOE administers, like the Advanced Research Projects Agency-Energy (ARPA-E) and the Office of Energy Efficiency and Renewable Energy (EERE), the most interesting news is that Obama is starting to go after fossil fuel subsidies with $4 billion in cuts, mostly to get rid of tax subsidies for oil and gas drilling. I’ve often been critical of the over $400 billion in subsidies the fossil fuel industries receive globally, and it’s good to see these cuts on the table. This will be an uphill battle in the Senate and we’ll hear all sorts of awful things about how fossil fuel subsidies are the only thing keeping Americans in jobs, because, you know, we wouldn’t want oil companies like Exxon Mobil, which turned a $41 billion profit in 2011, to actually pay the full cost of its oil exploration.
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