> The IMF found that direct and indirect subsidies for coal, oil and gas in the U.S. reached $649 billion in 2015. Pentagon spending that same year was $599 billion.
> The study defines “subsidy” very broadly, as many economists do. It accounts for the “differences between actual consumer fuel prices and how much consumers would pay if prices fully reflected supply costs plus the taxes needed to reflect environmental costs” and other damage, including premature deaths from air pollution.
IDK whether they've included the costs of responding to requests for help with natural disasters that are more probable due to climate change caused by these "externalties" / "external costs" of fossil fuels.
Why isn't the market choosing the least harmful, least lethal energy sources? Energy is for the most part entirely substitutable: switching costs for consumers like hospitals are basically zero.
(Everyone is free to invest in clean energy at any time)
> The main barriers to the widespread implementation of large-scale renewable energy and low-carbon energy strategies are political rather than technological. According to the 2013 Post Carbon Pathways report, which reviewed many international studies, the key roadblocks are: climate change denial, the fossil fuels lobby, political inaction, unsustainable energy consumption, outdated energy infrastructure, and financial constraints.
We need to make the external costs of energy production internal in order to create incentives to prevent these fossil fuel deaths and other costs.
Are the subsidies and taxes (incentives and penalties) rational in light of the relative harms of each form of energy?
"Study: U.S. Fossil Fuel Subsidies Exceed Pentagon Spending" https://www.rollingstone.com/politics/politics-news/fossil-f...
> The IMF found that direct and indirect subsidies for coal, oil and gas in the U.S. reached $649 billion in 2015. Pentagon spending that same year was $599 billion.
> The study defines “subsidy” very broadly, as many economists do. It accounts for the “differences between actual consumer fuel prices and how much consumers would pay if prices fully reflected supply costs plus the taxes needed to reflect environmental costs” and other damage, including premature deaths from air pollution.
IDK whether they've included the costs of responding to requests for help with natural disasters that are more probable due to climate change caused by these "externalties" / "external costs" of fossil fuels.