Coal mining companies attack our efforts to address climate change, often calling federal policies aimed at cutting pollution and promoting renewable energy a “war on coal.” But in reality, some of the biggest coal companies — like Peabody Energy — have actually grown because of their access to subsidized federal coal.
Alaska pays an energy allowance to its citizens for oil drilled along its coast.
Taking the following into account, it would seem that the financial share due the American people should be placed into a fund expressly for the purposes of financing OTHER THAN fossil fuels… tout suite:
“In fact, data published in a new report today shows that most of the coal mined by the three biggest coal companies in the United States belongs to the American public.”
Instead of carefully maneuvering around the big lump of coal in the room, the US should nationalize all fossil fuel corporation assets and other fossil fuels, raise prices on the fuels through a carbon fee and dividend or other means, and use all the revenue to build efficiency and clean safe resilient renewable energy infrastructure as fast as possible to replace the fossils. Part of that must be to help people who can’t afford higher prices to transition away from the fuels. Then it should phase out fossil fuel use as fast as it can be replaced, and within 8 years reduce US GHG emissions by at least 90%.