ANWR

[Harmon Seaver]

    Another:

U.S. GOVERNMENT WELFARE FOR OIL INDUSTRY
$114.6 BILLION ANNUALLY

The U.S. federal government provides up to US$ 114.6 billion

in subsidies annually to support the extraction, production
and
use of petroleum, such as research and development and
export
financing. The federal government also spends up to $1.6
billion=20
yearly on regulatory oversight, pollution cleanup and
liability=20
costs connected to the oil industry, the group said. In
addition,=20
U.S. Defense Department spending allocated to safeguard
the=20
world's petroleum resources totals $55 billion to $96
billion a=20
year, according to the International Centre for
Technology=20
Assessment. Tax subsidies don't end at the federal level, as
the=20
group said most state income taxes are based on oil firms'
lower=20
federal tax bills, which result in companies paying US $123
million=20
to $323 million less in state taxes.=A0 (C) Reuters Limited
1998.

The renewable energy and energy conservation industry
sectors are
concerned that the subsidies distort the free market and
make renewables
less economically competitive. They are calling for a
levelling of the
economic playing field. Either the renewable and
conservation=20
industries are given the same subsidies. Or, the subsidies
are=20
withdrawn from the oil industry. It is time, they say, for
honest
free enterprise. It will be good for the economy, they say,
and it
will result in cheap and substantial reduction in greenhouse
gas
emissions.

********************************************************************



--
Harmon Seaver, MLIS
CyberShamanix
Work 920-203-9633
Home 920-233-5820
hseaver at cybershamanix.com
http://www.cybershamanix.com/resume.html