Fossil fuels given $3.1 trillion subsidies at ‘staggering’ twenty-times level of renewables

The myth of fossil fuel subsidies does not go away. O, let’s be fair. There are some subsidies for coal in some developed countries. Those should have been rescinded long ago. And some oil-producing developing countries still use a fuel subsidy system that keeps the population sweet. I am in favor of rescinding all of them. But Oil & gas do not get any subsidies in developed economies. What those hucksters call subsidies are tax breaks and some fantasy numbers on imagines collateral costs. What they like to forget is that a tax credit means you still pay tax, just a bit less of it. Renewables get real subsidies, meaning cash in hand. thats a net drain. Oil & Gas pays a large part of the welfare bill of a developed country.

Linkedin Thread