HunterCA
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quote:
ORIGINAL: Sanity
quote:
ORIGINAL: Lucylastic
http://www.theguardian.com/environment/2015/may/18/fossil-fuel-companies-getting-10m-a-minute-in-subsidies-says-imf
‘Shocking’ revelation finds $5.3tn subsidy estimate for 2015 is greater than the total health spending of all the world’s governments
ossil fuel companies are benefitting from global subsidies of $5.3tn (£3.4tn) a year, equivalent to $10m a minute every day, according to a startling new estimate by the International Monetary Fund.
The IMF calls the revelation “shocking” and says the figure is an “extremely robust” estimate of the true cost of fossil fuels. The $5.3tn subsidy estimated for 2015 is greater than the total health spending of all the world’s governments.
The vast sum is largely due to polluters not paying the costs imposed on governments by the burning of coal, oil and gas. These include the harm caused to local populations by air pollution as well as to people across the globe affected by the floods, droughts and storms being driven by climate change.
Nicholas Stern, an eminent climate economist at the London School of Economics, said: “This very important analysis shatters the myth that fossil fuels are cheap by showing just how huge their real costs are. There is no justification for these enormous subsidies for fossil fuels, which distort markets and damages economies, particularly in poorer countries.”
Lord Stern said that even the IMF’s vast subsidy figure was a significant underestimate: “A more complete estimate of the costs due to climate change would show the implicit subsidies for fossil fuels are much bigger even than this report suggests.”
The IMF, one of the world’s most respected financial institutions, said that ending subsidies for fossil fuels would cut global carbon emissions by 20%. That would be a giant step towards taming global warming, an issue on which the world has made little progress to date.
Ending the subsidies would also slash the number of premature deaths from outdoor air pollution by 50% – about 1.6 million lives a year.
More links
here
http://www.forbes.com/sites/timworstall/2015/05/19/imf-report-on-5-3-trillion-in-energy-subsidies-careful-its-not-quite-what-you-think/
http://www.csmonitor.com/Environment/Energy/2015/0519/IMF-report-A-5-trillion-case-for-ending-fossil-fuel-subsidies-video
http://www.ft.com/cms/s/0/7c6512a6-fd27-11e4-b072-00144feabdc0.html#axzz3bNucRFMp
Im wondering why this hasnt hit here,
That bit of leftist drivel assumes that only those who provide fossil fuels benefit from the use of fossil fuels, which is absurd. The premise is stupid beyond words. The worlds poor would suffer immeasurable were affordable energy to be ripped out from underneath them
And as always with such leftist schemes, women, children and minorities are always the hardest hit
So, we make up storms caused by global warming. As we did with hurricanes which has been proven complete idiocy. Then when storms cause damage we atribute that to the made up storms, further atribute that to fossil fuel use, and apply the costs for repair of the damage as a government subsidy.
I wonder who teaches that math? Well really I dont. It's leftist idiocy.
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Fossil fuels subsidised by $10m a minute - 
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