Americans are paying the price for our oil addiction — in more ways than one ...Middle East

The Hill - News

Since 1793, when the Industrial Revolution began in the United States, Americans have paid very steep prices for coal, oil and natural gas. We haven't been aware of it, though. If we had, carbon-free renewable energy would have outcompeted carbon fuels in the marketplace long ago. Instead, market forces are distorted in favor of carbon-rich energy. Consumers should pay what fossil fuels really cost. How much of the cost is hidden? The usual answer is about $20 billion annually in government tax breaks. But a new report from the International Monetary Fund (IMF) estimates fossil fuels cost Americans $757 billion annually when we count environmental, health and economic damages. That'

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Americans are paying the price for our oil addiction — in more ways than one ...Middle East

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