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"Explicit subsidies that cut fuel prices accounted for 8% of the total and tax breaks another 6%. The biggest factors were failing to make polluters pay for the
by missedthecue 5y ago
"Explicit subsidies that cut fuel prices accounted for 8% of the total and tax breaks another 6%. The biggest factors were failing to make polluters pay for the deaths and poor health caused by air pollution (42%) and for the heatwaves and other impacts of global heating (29%)."
They estimate that globally, almost $6 trillion in subsidies are given to the fossil fuel industry. But aren't they miscalculating?
Venezuela for instance subsidizes their fuel at 2.5 cents per gallon. Who is the recipient of the subsidy in this case? Their state oil company or the citizens buying cheaper fuel?
Similarly with pollution. If one drives an F150 around town instead of a Prius, who is the recipient of the "cost of global warming" subsidy? It seems like it's the end user in both cases, not the drilling company.
- ZeroGravitas 5y agoIf someone calls EV or Wind or Solar policies subsidies, people say "yes, its the right thing to do and makes economic sense". No one says "the money goes to the person buying the EV so its not an EV industry subsidy!" But for some reason, people want to tie their logic up into pretzels to deny that oil companies are getting subsidies. Why?
- missedthecue 5y agoI don't say that though.
- legitster 5y agoYeah, normally subsidies benefit both parties equally at the expense of tax-payers. But something like 75% of the world's oil production comes from state-run enterprises, the benefits go entirely to the consumer.