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Study: Taxes Paid for Failed Oil Shale Subsidies

by KREX News Room
by Danielle Kreutter

Story Created: Nov 29, 2012 at 10:26 PM MDT

Story Updated: Nov 30, 2012 at 8:12 AM MDT

GRAND JUNCTION, Colo.- A nonpartisan taxpayer group says their new study brings to light just how many failed oil shale experiments were funded by taxpayer subsidies.

The study by Taxpayers for Common Sense says billions of taxpayer dollars have gone to oil shale experiments that have been unsuccessful.

"We have no problem with oil shale development if it's developed by the oil companies ... we don't want to have to have the taxpayer subsidizing an industry that, so far, has been a failure over the last 100 years," said Jill Lancelot, co-founder of Taxpayers for Common Sense.

The study comes out in light of a new bill proposed by Texas Rep. Ralph Hall, which would require the federal government to spend $10 million a year until 2017 to develop oil shale.

In a statement, Hall said, "In addition to providing hundreds of thousands of much needed jobs, safe and prudent development of these resources would redraw the global energy map, positioning the U.S. as a world leader in energy production for decades to come."

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