New Report on Biofuels Exposes $400 Billion in Taxpayer Subsidies
Our colleagues at Friends of the Earth and Earth Track recently released a report titled A Boon to Bad Biofuels: Federal Tax Credits and Mandates Underwrite Environmental Damage at Taxpayer Expense which examines the extent to which the biofuels industry is subsidized by federal tax credits and a federal renewable fuels mandate. The report finds that between 2008 and 2022, biofuels will receive more than $400 billion in subsidies. The report also shows that, rather than promoting the production of less harmful biofuels, many of these subsidies