U.S. Direct Fossil Fuel Subsidies are Half a Trillion Dollars Annually: commentary and findings
In its brief report released Jan. 19, 2012, "Governments Spend $1.4 Billion Per Day to Destabilize Climate," Earth Policy Institute brings forth disturbing data on fossil fuels subsidies. But the implication of comparing them to much smaller renewable energy subsidies is that "the answer" is a reallocation of money and better legislation. We have seen over the decades that this does not happen. President Obama and Congress have done as much as could have been expected under realpolitik , so little change in energy usage has occurred under the current political system. Global emissions are up, and few large examples are visible anywhere for turning around massive pollution. What happens when the necessary change in energy use is put off, and the world uses up all profitable resources? Sooner or later there is complete economic collapse, social upheaval including civil war o...