Who is funding fossil fuel expansion?

Fossil fuel companies receive billions in government subsidies

Fossil fuel companies receive billions of dollars in government subsidies each year. These subsidies come in the form of tax breaks, loan guarantees, and direct payments. They allow fossil fuel companies to keep their prices low and make more profits. In 2015, the International Monetary Fund (IMF) estimated that global fossil fuel subsidies amounted to $5.3 trillion. This is more than the governments of the world spend on health care and education combined. The IMF also found that fossil fuel subsidies disproportionately benefit the wealthy. The richest 10% of the world's population receives 58% of the benefits from fossil fuel subsidies.

Fossil fuel companies spend millions on lobbying

Fossil fuel companies spend millions of dollars each year on lobbying. This lobbying is used to influence government policy and prevent the passage of laws that would reduce their profits. In 2016, the Center for Responsive Politics found that the fossil fuel industry spent $7.6 million on lobbying in the United States. This was more than any other industry. Fossil fuel companies also spend millions of dollars on public relations campaigns. These campaigns are designed to improve the image of fossil fuels and make people less likely to support policies that would reduce their use.

Fossil fuel companies are a major source of political donations

Fossil fuel companies are a major source of political donations. These donations are used to support candidates who are likely to support the fossil fuel industry. In the 2016 US presidential election, the fossil fuel industry donated $12 million to Donald Trump's campaign. This was more than any other industry. Fossil fuel companies also donate to think tanks and other organizations that promote their interests. These organizations often produce research that is favorable to the fossil fuel industry and advocate for policies that benefit the industry.

Conclusion

Fossil fuel companies are a major source of pollution and climate change. They also receive billions of dollars in government subsidies, spend millions of dollars on lobbying, and are a major source of political donations. These factors give the fossil fuel industry a powerful influence over government policy and make it difficult to transition to a clean energy future.