How U.S. Taxpayers Subsidize Fossil Fuels in Russia, Saudi Arabia While Being Penalized at Home

[Geee]

Heritage Foundation:

Americans have to pay more for electricity and compete for fewer jobs because of President Obama’s regulatory curbs on fossil fuels at home, even as their tax dollars support expansion of those same energy sources abroad.

 

The Obama administration last month rolled out its most recent brake on fossil fuels, a 645-page proposed rule to achieve a 30 percent cut in carbon dioxide emissions from power sources by 2030 compared to 2005 levels.

 

At the same time, the administration pressed for reauthorization this fall of the U.S. Export-Import Bank, a federal agency that offers billions of taxpayer dollars for development of fossil fuels in Russia, Saudi Arabia, Turkey, Mexico and other countries.

 

In effect, Heritage Foundation policy analyst Diane Katz says, the Obama administration is “imposing a hefty energy tax on Americans” while “subsidizing fossil-fuel projects in foreign countries.”