31 Jan '12, 6pm

Ending Fossil Fuel Subsidies Could Achieve Half The World’s Carbon Reduction Goals

Ending Fossil Fuel Subsidies Could Achieve Half The World’s Carbon Reduction Goals

There is a lot of discussion in Washington these days about ending tax credits and subsidies for long-standing industries like coal and oil suppliers . But these subsidies are considered sacrosanct by many politicians, often the same politicians who decry any investment into green energy as “socialism.” But a study by the International Energy Agency finds that by ending fossil fuel subsidies, the “free-market” would make most cost-efficient choices. This natural shift could get the world halfway to its ambitious carbon reduction goals.A big talking point in the Republican party these days is ending government subsidies and interference in the free market. This mainly applies to green energy grants in the GOP’s eyes of course, but as President Obama said in his State of the Union address, America has subsidized oil and coal companies for over a century . If the GOP is serio...

Full article: http://gas2.org/2012/01/31/ending-fossil-fuel-subsidies-c...

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