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Article: Energy policy meltdown.(BEHIND THE LINES)(Energy Policy Act)
- Article from:
- Multinational Monitor
- Article date:
- July 1, 2005
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IN A MOVE THAT CONSUMER and environmental critics denounced for showering subsidies on the oil and nuclear industries, sure to worsen pollution and removing vital consumer protections, President Bush in August signed into law the Energy Policy Act.
The bill provides $4.5 billion in tax breaks and more than $7 billion in subsidies to the fossil fuel industry, and eases environmental regulations for oil and gas drilling and refining.
It will provide billions more in corporate welfare for the nuclear power industry. According to Public Citizen, the bill provides $2.9 billion in R&D supports for the nuclear industry, $3.25 billion in construction subsidies, ...