2.5 times more................

Listen to the messages coming out of Washington, D.C. and you'd think we're spending all our available money on clean and green technologies, things like algae biofuels, cleaner cars and advanced batteries. Turns out, this isn't remotely true. According to a new study that reviewed fossil fuel and energy subsidies for Fiscal Years 2002-2008 was just released by the Environmental Law Institute and discovered that the U.S. spends about two-and-a-half times as much on fossil fuels (mostly aiding foreign oil production) than it does on renewable energy. Fossil fuels were given about $72 billion during the seven years, while renewable fuels got just $29 billion. The money the U.S. spends on renewables isn't all that great, either. Of the $29 billion, $16.8 billion went to producing corn-based ethanol. Just two tax credits – the Foreign Tax Credit and the Credit for Production of Nonconventional Fuels – account for about $30 billion. The ELI writes that, "The Foreign Tax Credit applies to the overseas production of oil through an obscure provision of the U.S. Tax Code, which allows energy companies to claim a tax credit for payments that would normally receive less-beneficial treatment under the tax code."Link