Eloise Goldsmith is a staff writer for Common Dreams.
How do local communities lose out when governments invest in fossil fuel facilities instead of community needs? That's the question at the heart of a new Sierra Club report released Monday, titled 'The People Always Pay: Tax Breaks Force Gulf Communities to Subsidize the LNG Industry'—which details the extent to which the export market for liquefied natural gas , or LNG, benefits from billions of dollars in tax breaks in Louisiana and Texas—revenue that could be invested in public...
In total, Cameron Parish residents are set to lose out on $14.9 billion in revenue from 2012-2040 due to ITEP subsidies for various LNG export terminals.That investment in fossil fuel facilities translates to a lost $3.8 billion that could go towards schools and another $2.4 billion that could go towards health services, according to the authors of the report.The report also details how bolstering the LNG market has adversely impacted the local economy.
Green Economy Gulf Coast Sierra Club Tax Abatement Programs Liquefied Natural Gas
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