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.
FULL STORY: Fossil fuel subsidies are a staggering $5 tn per year
Do Environmentalists Confuse Oil Production With Oil Demand?
Samantha Gross, the director of the Energy Security and Climate Initiative at the Brookings Institution, argues that the key to reducing emissions is to do the hard work of reducing oil demand rather than focusing on ending U.S. oil drilling.
West Texas Drilling Boom Bodes Ill for Residents, the Planet
Driven by foreign demand, a surge in West Texas oil production is having adverse effects on the local populace, and contributes to climate change at a crucial moment.
Report: 15 Percent of Americans Deny Climate Change
A new study affirms other research showing that a small but vocal minority of Americans don’t believe climate change exists.
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Coming Soon to Ohio: The Largest Agrivoltaic Farm in the US
The ambitious 6,000-acre project will combine an 800-watt solar farm with crop and livestock production.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
The state’s energy grid was entirely powered by clean energy for some portion of the day on 37 out of the last 45 days.
New Forecasting Tool Aims to Reduce Heat-Related Deaths
Two federal agencies launched a new, easy-to-use, color-coded heat warning system that combines meteorological and medical risk factors.
AI Traffic Management Comes to Dallas-Fort Worth
Several Texas cities are using an AI-powered platform called NoTraffic to help manage traffic signals to increase safety and improve traffic flow.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
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