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Ann G. Berwick, Massachusetts Department of Public Utilities Restructuring Roundtable June 2011

Subsidies for Fossil Fuels in the Electric Generation Industry Integrating Policy, Planning and Electricity Markets in New England. Ann G. Berwick, Massachusetts Department of Public Utilities Restructuring Roundtable June 2011. Direct Subsidies – a snapshot.

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Ann G. Berwick, Massachusetts Department of Public Utilities Restructuring Roundtable June 2011

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  1. Subsidies for Fossil Fuels in the Electric Generation IndustryIntegrating Policy, Planning and Electricity Markets in New England Ann G. Berwick, Massachusetts Department of Public UtilitiesRestructuring RoundtableJune 2011

  2. Direct Subsidies – a snapshot Source: EIA 2008, update forthcoming in response to request from Congresspersons Chaffetz, Blackburn, and Bartlett

  3. Direct Subsidies – over time Tax Expenditures for Fossil Fuels and Renewables (2010 Dollars, Billions) Source: Congressional Research Service 2011 Cumulative Federal Subsides for Nuclear (1950-1990) are approximately $142 Billion. Source: Koplow 2010, citing Komanoff 1992

  4. Externalities • Non-climate related: • Emissions of SO2, NOx, PM2.5, and PM10 from Coal and Natural Gas Electricity Production have been estimated to result in an aggregated $62.7 Billion in damages to human health, visibility, agriculture, and other sectors in 2005 (in 2007 dollars). source: National Academy of Sciences 2010 • Social Cost of Carbon: • An estimate of the monetized damages associated with carbon emissions in the US in 2010 at $21 / metric ton CO2 (2007 dollars) • 2010 United States emissions = $120 Billion in global damages, of which 7 to 23 percent will occur in the the United States source: Brookings Institution 2011 and United States Government Interagency Working Group on Social Costs of Carbon 2010

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