Yesterday the House of Representatives cut $25 million in new funding for oil shale development. Instead of directing more subsidies at oil shale development the money will go towards deficit reduction.

The savings came from an amendment offered by Reps. Polis (D-CO) and Connolly (D-VA) to the fiscal year 2013 Energy and Water Development Appropriations Bill.

A precursor to oil, the federal government has provided subsidies for the oil shale industry since the beginning of the 20th Century. Over the years, oil shale has been showered with billions in tax credits, price guarantees, and loan guarantees. In addition, public lands have been given to private companies for oil shale research and development without requiring the payment of rents, bonuses, or royalties for facilities producing at less than commercial scale. Even after decades of technological research and continued government handouts, there remains no commercially viable method for producing oil shale today.

In these tight budget times, we cannot afford to continue throwing good money after bad. It is vital that taxpayers develop our natural resources responsibly and receive a fair return for any resources extracted from federal lands and waters.