
Just 10% of fossil fuel subsidy cash 'could pay for green transition' - sandino
https://www.theguardian.com/environment/2019/aug/01/fossil-fuel-subsidy-cash-pay-green-energy-transition
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8bitsrule
"In India, petroleum subsidies have been cut by around 75 per cent since
2014."

The full IISD report the article mentions is here [0] (along with a key points
summary) ...see 'PDF download' below the image at upper right. Very readable.

[0][https://www.iisd.org/library/fossil-fuel-clean-energy-
subsid...](https://www.iisd.org/library/fossil-fuel-clean-energy-subsidy-swap)

"The report shares examples of four countries—India, Indonesia, Zambia and
Morocco—that have already been taking concrete action and leading the way by
implementing fossil fuel to clean energy swaps."

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beatgammit
What would the impact be if we just eliminate fossil fuel subsidies?

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smt88
Lots of high-paying jobs would immediately be eliminated. Millions of people
driving gas cars would see prices go up a lot. Airline tickets, plastic
products... the prices of everything would go up.

There would also be big national security concerns. It's hard to hold, for
example, Saudi Arabia accountable for misdeeds when your economy depends on
them.

For the record, I think the US should do this gradually. Some of the money
could go toward welfare and unemployment benefits for people negatively
impacted by job losses or price increases.

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gm_fan_boi
Let's not forget all the senior citizens who rely on income from investments
in fossil fuel companies, this includes most of the parents of the under 45
who like to say, "screw the oil companies"

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ragebol
Or sell those assets now before they depreciate: divest from fossil fuel and
invest in in sustainable energy.

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rhinoceraptor
Sell them to who?

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Ambele
Someone who likes to buy small-cap-value companies. This person could be
domestic or overseas and might not care about US corporate negative
externalities; just the dividend yield.

