In The News

Study: Taxes Paid for Failed Oil Shale Subsidies

TCS RSS Feed RSS
Original Publication: KREXTV, November 29, 2012
Article Author:
November 30, 2012

GRAND JUNCTION, Colo.- A nonpartisan taxpayer group says their new study brings to light just how many failed oil shale experiments were funded by taxpayer subsidies.

The study by Taxpayers for Common Sense says billions of taxpayer dollars have gone to oil shale experiments that have been unsuccessful.

"We have no problem with oil shale development if it's developed by the oil companies ... we don't want to have to have the taxpayer subsidizing an industry that, so far, has been a failure over the last 100 years," said Jill Lancelot, co-founder of Taxpayers for Common Sense.

The study comes out in light of a new bill proposed by Texas Rep. Ralph Hall, which would require the federal government to spend $10 million a year until 2017 to develop oil shale.

In a statement, Hall said, "In addition to providing hundreds of thousands of much needed jobs, safe and prudent development of these resources would redraw the global energy map, positioning the U.S. as a world leader in energy production for decades to come."

Written By: Danielle Kreutter

Original Publication URL: http://www.krextv.com/news/around-the-region/Study-Taxes-Paid-for-Failed-Oil-Shale-Subsidies-181481321.html

Discussion
Weekly Wastebasket

Our weekly reality-check for federal spending. View All

February 27, 2015

The Plane That’s Eating the Pentagon

You really want that sports car, or a Mercedes, or a vacation, or a big new house, or some other fancy but... Read More

Our Take

TCS Analysis of President’s FY2016 Budget

February 02, 2015

Weekly Wastebasket

The Plane That’s Eating the Pentagon

February 27, 2015

Letters & Testimony

Fiscal Conservatives Urge Adherence to Budget Control Act

February 27, 2015

Letters & Testimony

Letter to DOE: Cut Funding for CCS Projects, Like FutureGen

February 27, 2015

Our Take

Upcoming Administrative Actions on Methane

February 26, 2015