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How Elon Musk could end fossil fuel subsidies

Summary

Elon Musk, alongside Vivek Ramaswamy, will lead the Department of Government Efficiency (DOGE) under President-elect Donald Trump. Tasked with cutting $2 trillion in federal spending, DOGE may inadvertently target fossil fuel subsidies, a longstanding environmentalist concern. Federal handouts to the industry, valued at $18 billion to $757 billion annually depending on metrics, include tax breaks for drilling and resource depletion, which could yield billions in revenue if repealed. Critics argue that fossil fuel companies benefit more from lax environmental regulations, which DOGE is unlikely to address. While some hope DOGE might curb subsidies or ethanol fuel support, lobbying and political priorities may limit impact.

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