13 Aug '12, 5pm

Huge, Overlooked (by Most) Fossil Fuel Subsidy

Huge, Overlooked (by Most) Fossil Fuel Subsidy

It’s rather rermarkable that everyone tends to overlook this immense fossil fuel subsidy, which amounts to somewhere in the ballpark of $1 trillion per year at present, globally. It’s certainly a difficult figure to quantify with a large possible range of values, but it’s also a huge cost which fossil fuel producers and consumers do not directly pay. While the market price of fossil fuels remains artificially low, we all pick up the tab to the tune of approximately $150 per person per year, on average, though those costs are unevenly distributed. However, Economics 101 says that the people who benefit from those emissions (fossil fuel consumers) should be the ones paying their cost through a price on carbon emissions.

Full article: http://cleantechnica.com/2012/08/13/huge-overlooked-by-mo...

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