60 days, 60 stats - #11
Today we're going to talk about Energy policy, because we're all sick of paying $3.50+ at the pump. The statistic for today is a ratio, 5:1. That's the ratio of US government subsidies for the oil & gas industry to those given to renewable energy (solar, wind...) during the first 15 years of each industry. Or, for every $1 we're giving to renewables today, we gave $5 to oil & gas when it was getting started. Why is this relevant? 1) Romney thinks we're giving too much to renewables, Obama wants to give more. 2) Oil & Gas was a great investment, but they don't need subsidies anymore. Romney wants to continue to subsidize a 100 year old industry that's making record profits, Obama wants to end those subsidies. A little history & context is important here. Basically, the US has subsidized "startup" energy industries for over 200 years. These subsidies come in all forms (tax breaks, R&D incentives, direct government assi...