A new study from researchers at the International Monetary Fund finds the cost of doing fossil fuel business.
"Fossil fuels have two major problems that paint a dim picture for their future energy dominance," according to an article by John Abraham. The first: they cause climate change. "Second, fossil fuels are expensive. Much of their costs are hidden, however, as subsidies. If people knew how large their subsidies were, there would be a backlash against them from so-called financial conservatives."
So, the World Development journal has published a new study from authors at the International Monetary Fund (IMF) that "quantifies the amount of subsidies directed toward fossil fuels globally." The results are "shocking," writes Abraham.
"The subsidies were $4.9 tn in 2013 and they rose to $5.3 tn just two years later," according to the findings of the study. The article devotes a lot more energy to describing the politics and consequences of the subsidies.
Read the full story: Fossil fuel subsidies are a staggering $5 tn per year
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Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
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Nation's most wind-powered state turns to coal as data centers increase energy demand
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NYC cools commuters with city's first rain garden above a bus stop
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Brightline West’s future may rely on $6 billion federal loan
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Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association