A new study from researchers at the International Monetary Fund finds the cost of doing fossil fuel business.
"Fossil fuels have two major problems that paint a dim picture for their future energy dominance," according to an article by John Abraham. The first: they cause climate change. "Second, fossil fuels are expensive. Much of their costs are hidden, however, as subsidies. If people knew how large their subsidies were, there would be a backlash against them from so-called financial conservatives."
So, the World Development journal has published a new study from authors at the International Monetary Fund (IMF) that "quantifies the amount of subsidies directed toward fossil fuels globally." The results are "shocking," writes Abraham.
"The subsidies were $4.9 tn in 2013 and they rose to $5.3 tn just two years later," according to the findings of the study. The article devotes a lot more energy to describing the politics and consequences of the subsidies.
FULL STORY: Fossil fuel subsidies are a staggering $5 tn per year
New Jersey to Consider Charging Fossil Fuel Companies for Pollution
A proposed law would make companies liable for damages caused by burning fossil fuels.
Do Environmentalists Confuse Oil Production With Oil Demand?
Samantha Gross, the director of the Energy Security and Climate Initiative at the Brookings Institution, argues that the key to reducing emissions is to do the hard work of reducing oil demand rather than focusing on ending U.S. oil drilling.
West Texas Drilling Boom Bodes Ill for Residents, the Planet
Driven by foreign demand, a surge in West Texas oil production is having adverse effects on the local populace, and contributes to climate change at a crucial moment.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
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