In his crusade against “handouts to big oil to the tune of $40 billion in fossil fuel subsidies,” President Biden would serve the republic grandly by explaining what in the world he’s talking about. Disagreement abounds over what is and what is not a “fossil fuel subsidy,” and how much the U.S. Treasury disgorges on account of it. The issue is wonky and ripe for political opportunism. [T]he natural assumption, like much said publicly about this subject, is quite wrong. The President offered scant clarification when he promised, as part of a January 27th executive order addressing climate change, to slay the subsidy dragon. Over what period, for example, are those huge “handouts” supposed to
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