Putting a dollar value on one of oil’s biggest subsidies: military protection

Defending the oil supply costs a lot of money.

One of the pretenses of right-wing energy policy is that conservatives support a “level playing field,” upon which energy sources can compete without subsidies. Let the market decide!

As I have written many times, this is a juvenile notion. Markets are powerful tools for directing private capital and innovation, useful in the right circumstances. But the idea that there ever has been, or ever can be, an open, unbiased, “free” market for...

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