Just read a bit about the massive subsidies the fossil fuels industry receives in the U.S and I was confused. Aren’t these companies one of the most profitable ones in the U.S?
In: Economics
[https://www.eesi.org/papers/view/fact-sheet-proposals-to-reduce-fossil-fuel-subsidies-january-2024](https://www.eesi.org/papers/view/fact-sheet-proposals-to-reduce-fossil-fuel-subsidies-january-2024)
Per that the fossil fuel industry got about $750B in subsidies in 2022, but worth noting that **less than half of a percent** of that was actual cash handed over.
https://www.statista.com/statistics/294614/revenue-of-the-gas-and-oil-industry-in-the-us/#:~:text=In%202022%2C%20the%20total%20revenue,of%20211.2%20billion%20U.S.%20dollars.
In 2022, the US gas and oil industry had about $300B in revenue, so about 1% of that is the direct subsidies.
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