During infrastructure negotiations, Republicans have been eager to frame any and all green spending as a wasteful add-on that picks winners and stifles competition. But the United States already picks winners—and a new report from the Stockholm Environmental Institute, a nonprofit think tank, provides one of the first-ever estimates for just how much these subsidies have been worth to one of the world’s most harmful industries. By boosting projected earnings by billions of dollars a year, government policy has been meddling in supposedly free markets—and driving up emissions—for years. Strikingly, the researchers estimate that these tax breaks are worth billions more to firms than the govern
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