Phasing out fossil fuel subsidies: Are fossil fuel subsidies damaging to national budgets?

  • Yes they are damaging.

    Fossil fuel subsidies are damaging the the national budget as they try to figure out where the next source or our energy and gas will come from. It is coasting hundreds of thousands of dollars in order to experiment and test new ways to effectively supply the needs of the world.

  • Fossil Fuel Subsidies for Big Oil

    Fossil fuel subsidies cost over $500 billion in 2012 and that amount does not include the over $100 billion in subsidies paid directly to the oil companies. This is a large chunk of change paid out of the national budget. Oil companies are known for their huge profits and this money would be put to much better use developing alternative energies. Simply put, they don't need it to stay in business and would still make enormous profits without it so why continue.

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