Fossil Fuel Subsidies Must End

offshore drilling must stop

By Geoffrey Supran, Peter Erickson, Doug Koplow, Michael Lazarus, Peter Newell, Naomi Oreskes, Harro van Asselt on February 24, 2020 Scientific American

Despite claims to the contrary, eliminating them would have a significant effect in addressing the climate crisis

When it comes to tackling the climate crisis, ending $400 billion of annual subsidies to the fossil-fuel industry worldwide seems like a no-brainer. For the past decade, world leaders have been resolving and reaffirming the need to phase them out. All of the 2020 Democratic presidential candidates have committed to eliminating fossil-fuel subsidies, and the vast majority of the American public supports doing so. International financial institutions such as the World Bank and International Monetary Fund have joined the chorus, pointing to the benefits of reform.

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Global economy would save up to $160 trillion by shifting to renewables, electric cars

Annual fossil fuel subsidies

Every dollar spent on energy transition would pay off up to seven times.

When it comes to tackling the climate crisis, ending $400 billion in annual subsidies to the fossil-fuel industry worldwide seems like a no-brainer.

In 2018, however, a group of researchers questioned the magnitude of the climate benefits of subsidy reform, reporting that their simulations showed its effect would be “limited” and “small.” Stories in the press began asking whether such subsidies are such a big deal after all.

We think this is wrong.

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London has world’s first 24-hour Ultra Low Emissions Zone

A ULEZ (ultra-low emission zone) sign in London Monday directed motorists as authorities started to enforce the anti-pollution measure in the city. Photo by Andy Rain/EPA-EFE

London introduced the world’s first 24-hour city Ultra Low Emission Zone Monday in an effort to reduce air pollution and protect public health in Britain’s capital.

Vehicles are responsible for about half of the dangerous nitrogen oxide emissions in London…

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Lotus Has a Real GEM

Lotus makes some of the best looking, fast and fun to drive green cars. Some of it’s panels are made from recyclable hemp, and one model – the Exige 270E is a real GEM – meaning it can run on Gasoline, Ethanol or Methanol. Their engineers designed it “to demonstrate how straightforward it can be to develop high performance carbon neutral vehicles using sustainable liquid fuels.”

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