Biden bind.

Oil and gas subsidies have expanded under the Biden administration, now exceeding federal revenue from fossil fuels by $2.1 billion, which Forbes reports was a net loss for the government in 2022.

President Biden is in a bind here with the U.S. pledging to end fossil fuel subsidies, while incentivizing carbon capture and storage that would most certainly prolong oil and gas production.

Amena H. Saiyid

Washington D.C. Correspondent