Money Down a Hole

It’s long been Barataria’s position that energy independence, followed closely by a decrease in reliance on limited resources, is a very wise policy. The key question is resilience, which is to say the economy’s ability to weather any storm and still provide basic services. Food and energy should not become expensive overnight because of political concerns or currency shifts.

Getting to this point is a bit more controversial, however. Even the paltry $29B spent in 2013 as subsidies for renewable energies has become a political football. That amount comes to $236 per household, which is to say about 5% of what we spend on defense. Nevermind, it seems like a lot.

But according to a new study by the Overseas Development Institute (ODI), that’s almost exactly what we spend in subsidy to fossil fuels. And by global standards we’re actually doing far more than our share.

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