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Fossil fuel companies are benefitting from global subsidies of $5.3tn (£3.4tn) a year, equivalent to $10m a minute every day, according to a startling new estimate by the International Monetary Fund.
The IMF calls the revelation “shocking” and says the figure is an “extremely robust” estimate of the true cost of fossil fuels. The $5.3tn subsidy estimated for 2015 is greater than the total health spending of all the world’s governments.
The vast sum is largely due to polluters not paying the costs imposed on governments by the burning of coal, oil and gas. These include the harm caused to local populations by air pollution as well as to people across the globe affected by the floods, droughts and storms being driven by climate change.
originally posted by: Variable
a reply to: Kali74
You cannot supply current power needs with renewable energy. The math isn't there. Any talk otherwise assumes all kinds of crazy thinking. If you want to go off grid with the same power consumption you have now on the grid, please go price out the costs on a wat per wat basis. Look at your bill and go calculate how much you need. If you can afford it great, but most people can't afford it. Don't forget to factor in maintenance costs...
Last time i looked the solar panel set up alone was around 35K and that was years ago. Until we have fusion power, fossil fuels will reign supreme. Any talk otherwise is not based in reality. I don't think anyone with a realistic outlook thinks there is any chance that renewable energy can take over our growing grid. Any talk is full of a whole lot of "ifs".
The billionaire CEO of Continental Resources told a dean at the University of Oklahoma that he wanted earthquake researchers dismissed
"I'm very approachable, and don't think I'm intimidating," Hamm was quoted as saying in an interview with EnergyWire, an industry publication, that was published on May 11. "I don't try to push anybody around."
"Mr. Hamm is very upset at some of the earthquake reporting to the point that he would like to see select OGS staff dismissed," wrote Larry Grillot, the dean of the university's Mewbourne College of Earth and Energy, in a July 16, 2014, e-mail to colleagues at the university. Hamm also expressed an interest in joining a search committee charged with finding a new director for the geological survey, according to Grillot's e-mail. And, the dean wrote, Hamm indicated that he would be "visiting with Governor [Mary] Fallin on the topic of moving the OGS out of the University of Oklahoma."
Hamm has been a generous donor to the University of Oklahoma, including a 2011 gift of $20 million for a diabetes research center named after the oilman. University President David Boren, a former U.S. senator, sits on the board of directors of Hamm's Continental Resources.
originally posted by: LDragonFire
This is one reason why they have so much political pull and propaganda machines.
Why are we so dependent on foreign oil, Because they say so that's why!
Why do they have so much money to pay off political pundits and climate change science and politicians.
One-hundred-thirty members of Congress or their families have traded stocks collectively worth hundreds of millions of dollars in companies lobbying on bills that came before their committees, a practice that is permitted under current ethics rules, a Washington Post analysis has found.
What is it that you want me to do exactly? Find the Koch brothers or the Rockefellers and confront them?
originally posted by: corvuscorrax
originally posted by: reldra
a reply to: Kali74 I am supposed to be making rich people richer, apparently.
As long as you accept your fate, everything will be just fine.