In late March, Senate Republicans torpedoed an effort by Democrats to repeal the $4 billion a year that is flowing to the oil companies in the form of subsidies. The Obama Administration had proposed ending the subsidies so that this unnecessary money for the oil industry could instead be directed towards renewable energy projects and emission reduction in the United States. But in Washington, big oil has paid off the right people and organizations to make sure that their subsidies and tax breaks never disappear.
One organization that is flush with cash from the oil industry is the Institute for Energy Research (IER.) While their name might have you believe otherwise, the group is little more than an industry-funded propaganda machine, hell-bent on insuring that the desires of the dirty energy industry continue to be fulfilled within the halls of Congress. “Energy research” has almost nothing to do with the group’s activities.
Last week, after the Senate’s vote to block the subsidy repeal, IER compiled a report attempting to dissect and disprove the Administration’s proposal, point by point. But like most information put out by these corporate-funded think tanks, IER’s analysis is riddled with falsehoods and inaccurate information.
At least 75 per cent of known fossil fuel reserves must remain in the ground to avoid catastrophic climate change, but not only are fossil fuel...