As fossil fuel giants continue to rake in billions of dollars in profits, U.S. Rep. Ro Khanna on Thursday is reintroducing legislation to end giving billions in taxpayer dollars to companies that inject captured carbon dioxide into wells to extract more climate-wrecking oil.

“The fossil fuel industry receives over $20.5 billion in taxpayer dollars every year while fleecing American consumers and driving a global climate crisis,” Khanna (D-Calif.) told Common Dreams. “The End Polluter Welfare for Enhanced Oil Recovery Act will eliminate the subsidy for captured carbon used for enhanced oil recovery, which only leads to more fossil fuel extraction and does nothing to mitigate climate change.”

While advocates of carbon capture utilization and storage claim that it’s necessary to address the fossil fuel-driven climate emergency, most CO2 captured in the United States is used to extract more planet-heating oil and gas, leading many scientists and green groups to argue that it is a “false climate solution.”

“Oil drilling is the real story behind the fossil fuel industry’s carbon capture obsession,” said Jim Walsh, policy director at Food & Water Watch, which has endorsed Khanna’s bill. “These corporate polluters are raiding public coffers from what could easily be hundreds of billions of dollars while greenwashing the further degradation of our climate.”

Walsh also highlighted the impact on people who live near fossil fuel infrastructure, telling Common Dreams that “communities across the country are facing the potential for thousands of harmful industrial projects and tens of thousands of miles of dangerous pipelines that will do little more than put money in the pocket of the........

© Truthout