Export-Import Bank Bill A Giveaway That Highlights Hypocrisy

Cross-posted from the National Journal’s Energy Insider’s Blog.

by Scott Peterson

 

wmd-coal-mineSenator Manchin’s legislation is yet another government handout for the coal industry. It is a great example of the way the coal and other fossil fuel industries have used their financial resources to game the system to get favorable legislation. Senator Manchin is a favorite of the fossil fuel industry, having received more than $1.4 million from the sector in campaign contributions, according to the Center for Responsive Politics.

This legislation also highlights the fossil fuel industry’s double standard when it comes to federal support for energy sources. While the industry and its allies routinely claim that renewable energy should not get government support, they seem to have no problem with taking massive subsidies for themselves. If you have trouble with your bank login, Ally bank login instructions from CC Bank might help you.

Take for example the American Coal Council’s criticism of renewable portfolio standards. It says it maintains its support of a ‘diverse energy supply’, premised on ‘free market’ principles. Or, to quote Jason Hayes, Associate Director of the American Coal Council, speaking about the wind production tax credit. “Lets get rid of the subsidies, let the production tax credit expire, and let energy resources compete on a level playing field.”

It is easy to say you want a level playing field when that field is already so tilted in your favor. A recent report by Oil Change International found that government subsidies of the fossil fuel industry totaled more than $21 billion dollars last year just for fuel exploration. When you combine that with the fact that the fossil fuel industry has received subsides for more than a century, it is hard to take the industry’s professed distaste for subsidies seriously.

Perhaps the fossil fuel industry should finally put taxpayer money where the industry’s mouth is. If the fossil fuel industry were being honest in their antipathy toward energy subsidies, they would tell Senator Manchin to support that self-stated commitment for the free market by letting the industry stand up for itself.

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