Federal spending on energy programs, including tax breaks and loan guarantees, was $37.2 billion in 2010, more than double the $17.9 billion spent in 2007, according to a recent report from the federal Energy Information Administration. (EIA’s previous report was issued in 2007.)
The renewable energy sector received the lion’s share of the funds, with $14.6 billion in 2010, up from about $5 billion in 2007. The ethanol industry received about $6 billion of that amount through a tax credit given to producers that blend ethanol into gasoline.
Nuclear power received $2.5 billion in support in 2010, an $800 million increase over 2007; coal got $1.3 billion, a hike of almost $400 million over 2007; and natural gas and petroleum liquids received $2.8 billion in 2010, a nearly $800 million increase over 2007.
Read a report prepared for the Renewable Fuels Association on contributions of the ethanol industry to the U.S. economy.