According to the latest International Monetary Fund (IMF) report on energy subsidies, “fossil fuels account for 85 percent of all global subsidies,” and reducing these subsidies “would have lowered global carbon emissions by 28 percent and fossil fuel air pollution deaths by 46 percent, and increased government revenue by 3.8 percent of GDP.”
– Global Fossil Fuel Subsidies Remain Large: An Update Based on Country-Level Estimates | International Monetary Fund (IMF): https://www.imf.org/en/Publications/WP/Issues/2019/05/02/Global-Fossil-Fuel-Subsidies-Remain-Large-An-Update-Based-on-Country-Level-Estimates-46509
We all pay fossil fuels twice. Not only people and companies pay a high levy when refuelling, but as taxpayers their money massively funds intermediaries, corruption, regime destabilizations and even oil wars.
– The oil wars: How America’s energy obsession wrecked the Middle East | Eugene Gholz: https://www.youtube.com/watch?v=JH9zjozwNF8&feature=youtu.be
– Basic guide to corruption and anti-corruption in oil, gas, and mining sectors: https://www.u4.no/topics/oil-gas-and-mining/basics
– If the world ran on sun, it wouldn’t fight over oil | Bill McKibben | The Guardian: https://amp.theguardian.com/commentisfree/2019/sep/18/climate-crisis-oil-war-iraq-saudi-attack-green-energy
– FossilFuel big five ‘spent €251m lobbying EU’ since 2010 | Business | The Guardian : https://www.theguardian.com/business/2019/oct/24/fossil-fuel-big-five-spent-251m-lobbying-european-union-2010-climate-crisis
Climate activists Greta Thunberg and George Monbiot as well as many others, including the Gordon Moore institute, promote a three-point approach to solve the climate change emergency: protect, vote, fund.
Nature Now: https://www.youtube.com/watch?v=-S14SjemfAg
Regarding the fund approach, diverting only 10% of the fossil fuel subsidies would finance the transition to renewable energies and make them economically more interesting for consumers.
– Just 10% of fossil fuel subsidy cash ‘could pay for green transition’| The Guardian: https://www.theguardian.com/environment/2019/aug/01/fossil-fuel-subsidy-cash-pay-green-energy-transition
– 5 Reasons to Stop Fossil Fuel Subsidies: https://www.youtube.com/watch?v=XQ12ZKt_6PM&feature=youtu.be
– Energy storage could help put more wind and solar on the grid: https://www.youtube.com/watch?v=J9mfUT6ZboQ&feature=youtu.be
– Insight from Brussels: Taxing times for diesel in Europe – S&P Global: https://www.spglobal.com/en/research-insights/articles/insight-from-brussels-taxing-times-for-diesel-in-europe