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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Fracking Pollutes Water …

Fracking pollutes water, makes it unusable and will eventually make it more expensive.? On the positive side, fracking for natural gas gives the US plenty of energy and creates jobs.

But using renewable energy sources has all the same benefits, but none of the environmental and health issues.

It is a fact that “The byproducts of fracking are far worse than the relatively low cost of natural gas.”

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Petroleum Perils

Petroleum Perils Royal Dutch Shell rig aground in the Arctic

The perils of extracting petroleum and fossil fuels are well documented. Clearly, drilling in the arctic or offshore is difficult, expensive and dangerous. A spill is hard to contain and virtually impossible to clean up. Spills from 20 years ago like the Exxon Valdez in Alaska to recent ones caused by British Petroleum in the Caspian Sea and the Gulf of Mexico are testament to their devastating and long lasting effects. Greenpeace has “… identified oil drilling in Arctic waters as one of the biggest climate threats being ignored by the world’s governments.”

Every year, according to Greenpeace, about 30 million barrels of oil products leak from wells and pipelines in Russia. An estimated four million barrels of that, roughly the size of BP’s Gulf of Mexico spill, flows straight into the Arctic Ocean through tributaries. !

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