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DeSmog New calls for market-based approaches to limiting climate pollution raise concerns about these policies’ effectiveness Analysis Apr 4, 2021 @ 00:01 Taxes U-turn Sign. Credit: efile989, CC BY-SA 2.0 and Oil Well Credit: Maarten Heerlein, CC BY 2.0. Adapted by: Justin Mikulka The fossil fuel industry and its investors have financially benefited from tax policies and subsidies designed to reduce the emissions from oil, gas, and coal sometimes without taking the action required to tackle climate change. Recently, claims have been surfacing of companies taking the taxpayer money offered to incentivize these actions but not following through on reducing their emissions. In March, for example, Reuters reported that Congress has opened an investigation into problems with the government’s “clean coal” tax credit. This is after Reuters revealed that financial institutions, including Goldman Sachs, were making huge profits off the program, despite ....
Read time: 12 mins By Justin Mikulka • Sunday, April 4, 2021 - 00:01 The fossil fuel industry and its investors have financially benefited from tax policies and subsidies designed to reduce the emissions from oil, gas, and coal sometimes without taking the action required to tackle climate change. Recently, claims have been surfacing of companies taking the taxpayer money offered to incentivize these actions but not following through on reducing their emissions. In March, for example, Reuters reported that Congress has opened an investigation into problems with the government’s “clean coal” tax credit. This is after Reuters revealed that financial institutions, including Goldman Sachs, were making huge profits off the program, despite it not effectively reducing emissions. ....