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Sure, but any incentive to speed up that effort will help. In the meantime, oil and gas will fine without the existing subsidies, given they are still posting r

Sure, but any incentive to speed up that effort will help. In the meantime, oil and gas will fine without the existing subsidies, given they are still posting record profits in the midst of the war: https://www.cbsnews.com/news/oil-companies-record-profits-2022-exxon-chevron/ https://www.cbsnews.com/news/oil-companies-record-profits-20...

bioemerl 4y ago
Record profits won't matter when a company looks at a project and sees it will result in a loss. It's rare they will decide to subsidize that loss unless there is incentive. No idea how the math works out. It may be that the subsidies may be totally excessive. I'm skeptical the layman's perspective on this is actually accurate. The reasoning presented screams "arguments made in bad faith by activists" to me. Stuff that seems super reasonable but breaks apart once you understand in depth.
- lordswork 4y ago
  >Record profits won't matter when a company looks at a project and sees it will result in a loss What long-term projects are you imagining oil and gas to start investing in now? To hit 2030 / 2050 emission goals, we can't afford to invest in new long term oil and gas projects. >I'm skeptical the layman's perspective on this is actually accurate. The reasoning presented screams "arguments made in bad faith by activists" to me. Stuff that seems super reasonable but breaks apart once you understand in depth. Here are a couple of resources on how much these subsidies work out to be: [0]: https://www.theguardian.com/environment/2021/oct/06/fossil-fuel-industry-subsidies-of-11m-dollars-a-minute-imf-finds https://www.theguardian.com/environment/2021/oct/06/fossil-f... [1]: https://www.imf.org/en/Publications/WP/Issues/2021/09/23/Still-Not-Getting-Energy-Prices-Right-A-Global-and-Country-Update-of-Fossil-Fuel-Subsidies-466004 https://www.imf.org/en/Publications/WP/Issues/2021/09/23/Sti...

bioemerl 4y ago

Record profits won't matter when a company looks at a project and sees it will result in a loss. It's rare they will decide to subsidize that loss unless there is incentive. No idea how the math works out. It may be that the subsidies may be totally excessive. I'm skeptical the layman's perspective on this is actually accurate. The reasoning presented screams "arguments made in bad faith by activists" to me. Stuff that seems super reasonable but breaks apart once you understand in depth.

lordswork 4y ago
>Record profits won't matter when a company looks at a project and sees it will result in a loss What long-term projects are you imagining oil and gas to start investing in now? To hit 2030 / 2050 emission goals, we can't afford to invest in new long term oil and gas projects. >I'm skeptical the layman's perspective on this is actually accurate. The reasoning presented screams "arguments made in bad faith by activists" to me. Stuff that seems super reasonable but breaks apart once you understand in depth. Here are a couple of resources on how much these subsidies work out to be: [0]: https://www.theguardian.com/environment/2021/oct/06/fossil-fuel-industry-subsidies-of-11m-dollars-a-minute-imf-finds https://www.theguardian.com/environment/2021/oct/06/fossil-f... [1]: https://www.imf.org/en/Publications/WP/Issues/2021/09/23/Still-Not-Getting-Energy-Prices-Right-A-Global-and-Country-Update-of-Fossil-Fuel-Subsidies-466004 https://www.imf.org/en/Publications/WP/Issues/2021/09/23/Sti...