Energy Industry

Tue, 2012-01-10 15:41Farron Cousins
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The Fracking Job Creation Myth

The prospect of job growth in the United States has been a major selling point for industry in the four years since the beginning of the recession. And even with positive gains being made in the job sector over the last year and a half, unemployment is still hovering around 8.5%. That is why unemployed Americans are still eager to jump onto plans that promise to create much-needed jobs in our country.

The dirty energy industry is well aware of the fact that promising jobs in these times can get you ahead, and they are using this to their advantage. In an attempt to push for increased hydraulic fracturing (fracking), the industry is touting the alleged job creation benefits of the practice. They are pitching fracking as a snake oil salesman would pitch a “cure-all tonic,” claiming that allowing them to continue fracking and drilling activities will help our economy by creating jobs and it will help our country by solving our energy problems.

But fracking has been going on for decades, the industry likes to remind us, although it has picked up tremendous steam in the last 5 years with the advent of directional drilling. So where are all those hundreds of thounsands of jobs that we’ve been promised? The answer to that question is simple: They don’t exist - At least not in the numbers the industry wants us to believe.

Helene Jorgensen from the Center for Economic and Policy Research outlines how the dirty energy industry has tried to hoodwink the American public:

Wed, 2011-09-21 14:06Farron Cousins
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Global Financial Leaders Recommend Cutting Fossil Fuel Subsidies

Global financial institutions including the International Monetary Fund and the World Bank have released a new set of recommendations for G20 countries to meet their goal of providing $100 billion a year in aid for developing nations to combat climate change. In addition to calls for charges on carbon emissions and higher prices for carbon-intensive fuels, the financial experts said the first source of funding should come from redirecting fossil fuel subsidies.

In a move that will surely leave the dirty energy industry in a fit of rage, global economists said that fossil fuel subsidies should be cut and redirected towards helping developing nations fight climate change. The total amount spent on industry subsidies for G20 countries is currently $60 billion a year, more than half of what the countries have pledged to spend per year on climate initiatives and renewable energy projects.

From The Huffington Post:
 

The draft paper says the starting point should be a review of fossil fuel subsidies, amounting to $40 billion to $60 billion a year. But many of those subsidies are handed out in poor countries, where people living on the edge of subsistence need help, for example, to buy cooking gas. Still, subsidy reforms in industrialized countries and emerging economies could contribute $10 billion a year to a climate fund, it said.
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