How Much is Military Defense of Fossil Fuels Costing Us? Up to $215 Billion a Year
Is the Iraq War all about oil? Maybe not. But even former Federal Reserve chairman Alan Greenspan has acknowledged the action was “essential” to protect the world’s access to oil. With many of the world’s top-producing oil and gas fields in decline, is it unreasonable to suggest there will be more military action to defend our “right” to fossil fuels?
Not according to the National Priorities Project, which today released a report that finds the U.S. is spending $97 billion to $215 billion a year on military efforts to defend oil and natural gas reserves around the world. That means as much as 30 percent of the U.S.’s military budget is aimed at protecting access to fossil fuels.
