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Fossil Fuel Companies Received $5.9T in Subsidies Worldwide

Fossil Fuel Companies Received $5.9T in Subsidies Worldwide Fossil fuel subsidies shield us from the real price at the pump Oil Refinery at Night 2020 was a banner year for fossil fuel subsidies worldwide propping up the world’s oil companies with $5.9T in subsidies according to the International Monetary Fund. Conservative estimates put US subsidies to oil companies […]

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Denouncing ‘Handouts to Big Oil,’ Biden Calls on Congress to End $40 Billion in Taxpayer Subsidies for Fossil Fuels

Denouncing ‘Handouts to Big Oil,’ Biden Calls on Congress to End $40 Billion in Taxpayer Subsidies for Fossil Fuels “Biden campaigned on eliminating fossil fuel giveaways, and voters agree by a huge margin,” said one climate activist. Special Presidential Envoy for Climate John Kerry listens as President Joe Biden speaks on tackling climate change in […]

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Report: Just Ten Percent of Global Fossil Fuel Subsidies Would Completely Pay For a Global “Green Transition”

Report: Just Ten Percent of Global Fossil Fuel Subsidies Would Completely Pay For a Global “Green Transition” Stephanie Kelton explaining what Ben Bernanke meant in 2009 when he said the Fed doesn’t “spend tax money” when it transfers money to banks, but simply changes numbers in a computer. “To lend to a bank, we simply […]

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New study questions impact of ending fossil fuel subsidies

New study questions impact of ending fossil fuel subsidies Ending the world’s fossil fuel subsidies would reduce global CO2 emissions by 0.5 to 2.2 gigatonnes (Gt) per year by 2030, a new study says. The research, published by Nature, concludes that the removal of subsidies would lead to bigger emissions reductions in oil and gas […]

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Psst, Trudeau: IMF Now Pegs Our Fossil Fuel Subsidies at $46 Billion

Psst, Trudeau: IMF Now Pegs Our Fossil Fuel Subsidies at $46 Billion Fastest way to transition Canada to a green economy? Quit the giveaways. According to IMF economists, Canadian carbon-based fuels should be taxed an additional $17.2 billion annually to compensate for climate change. Oil photo via Shutterstock. Justin Trudeau has a problem. How can Canada meet […]

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There Are 800 Fossil Fuel Subsidies Around The World

There Are 800 Fossil Fuel Subsidies Around The World There are 800 different programs around the world that subsidize fossil fuels, according to a new report from the OECD. The OECD released the report ahead of the international climate change negotiations set to take place in Paris in December, where the world has a “moral imperative to […]

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