We Need to Tax Carbon Emissions, Not Subsidize Fossil Fuels

We Need to Tax Carbon Emissions, Not Subsidise Fossil Fuels

by acienceprogress@oilprice.com (Science Progress)

The International Energy Agency (IEA) made headlines recently by concluding that fossil fuels received far more global subsidies than renewable energy in 2010. However, it appears that the IEA survey only included data from the countries with the largest fossil fuel subsidies, which are mainly developing countries whose economies largely depend on fossil fuel production.  National Geographic’s The Great Energy Challenge also includes fossil fuel subsidy data from developed countries (Figure 1), bringing the total global value close to…Read more...