Senator Sheldon Whitehouse
@senatorwhitehouse·303K subscribers·2.2K videos
Sen. Whitehouse Opens Budget Hearing on Air Pollution, Public Health & the True Cost of Fossil Fuels
Posted
May 3, 2023
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May 3, 2023
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5:13Now PlayingMay 3 | Senator Sheldon Whitehouse, Chairman of the Senate Budget Committee, delivers his opening statement at a Budget Committee hearing entitled, "Who Pays the Price: The Real Cost of Fossil Fuels."
Scientists and economists warn that the United States is failing to reckon with the true costs of fossil fuels.
The International Monetary Fund estimates US fossil fuel subsidies amount to more than $660 billion each year when factoring in industry tax breaks and the harmful effects of fossil fuel combustion: global warming, air pollutants, and road accidents or congestion. Yet this does not include the harmful effects of local pollutants from oil and gas extraction, which cause serious health problems, like lower birth weights, elevated risk of leukemia, and higher asthma rates.
While President Biden has proposed repealing direct oil and gas subsidies in his FY 2024 budget request, House Republicans have doubled down on fossil fuel giveaways with their Default on America Act, which would leave American taxpayers footing the bill for climate change.
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