https://www.imf.org/en/Blogs/Articles/2023/08/24/fossil-fuel-subsidies-surged-to-record-7-trillion
A portion of the increased revenues should be used to compensate vulnerable households for higher energy prices. The remainder could be used to cut taxes on work and investment and fund public goods such as education, healthcare, and clean energy.
#fossilfuelsubsidies

You know we're in critical danger when the #IMF ... that very instrument of #NeoLiberalism! ... posts an article decrying the ever increasing #FossilFuelSubsidies

https://www.imf.org/en/Blogs/Articles/2023/08/24/fossil-fuel-subsidies-surged-to-record-7-trillion

We need #EnergyTransition and we need it 50 years ago, but starting today is better than later. We can't afford to wait.

#ClimateChange
#ClimateCrisis
#FossilFuel

“Cutting #FossilFuelSubsidies “needs to be the centrepiece of efforts over the next few years to get on track with limiting #GlobalWarming to below 2C”, said Ian Parry of the #IMF. “Ideally this is done through #CarbonPricing [and] some of the revenues from reforms should be used to compensate poor and vulnerable households.” https://climatejustice.social/@ariadne/110946038482063014

G20 poured more than $1tn into fossil fuel subsidies despite Cop26 pledges – report

"The G20 poured record levels of public money into fossil fuels last year despite having promised to reduce some of it, a report has found."

"Fossil fuels release pollutants when burned that heat the planet and make extreme weather more violent. They also dirty the air with toxins that damage people’s lungs and other organs. Scientists estimate the air pollution from fossil fuels kills between 1 and 10 million people each year."

"In June, a report from the World Bank found that “by underpricing fossil fuels, governments not only incentivise overuse, but also perpetuate inefficient polluting technologies and entrench inequality...Of all subsidies to the energy sector, about three-quarters go to fossil fuels."

“With fossil fuel companies gaining record profits amid the energy crisis last year, there is little incentive for them to change their business models in line with what’s needed to limit global warming...But governments have the power to push them in the right direction.”

https://www.theguardian.com/environment/2023/aug/23/g20-poured-more-than-1tn-on-fossil-fuel-subsidies-despite-cop26-pledges-report
#FossilFuelSubsidies #IncentiviseOveruse #G20 #Australia #inequality #FossilFuels #climate

@junesim63 same in #australia. If these #FossilFuel projects are so profitable, why do they absolutely depend on taxpayers subsidies? Could it be political donations?
#FossilFuelSubsidies

But large investor-owned #utilities, with legions of #lawyers to help them evade scrutiny, bake many of their #political costs into #rates right alongside their #investments in #electrical poles and wires.
 
Free to read:
https://www.nytimes.com/2023/07/05/opinion/utility-bills-clean-energy.html?unlocked_article_code=jJcsS21G5aRoIuY-YTRd_S_e5ms-d-cvMubltRam6gLmTRF8mboNrX3Yy-OsYTywfnyr5_i5UA4NGq9HcIIxTurS9TsI3Gu6XpkQRh3-I1ZUTQAPlk64joRfr5JsWYAopvj9w-75SWTnbo2xR55DxtwpDhouK4teV5nmzWISE6SrlgN-FtemVk10bvf5IQoUN5zNl5y2yql-GzTyxUdRZLrB-eH9tyI9dtm8MH15WeyH-g5vUeZ0kQsTYUaaxPBViXYmOe5wyXssf3mt0EuJAop7wuDQnBGqRWGca_XoWaj3bunCe2uKjAjWDgTkz7u2HUfUJuqoejJ-Ap6hec7jge474hE&smid=url-share

#ObliviousConsumer
#fossilfuelsubsidies  
#businessasusual

https://www.propublica.org/article/dot-rejected-truck-side-guards-trucking-lobbyists-safety

#regulatorycapture: The ATA’s ability to #secretly shape #government research highlights the cozy relationship between the #federal officials tasked with keeping our #roads #safe and the trucking companies they oversee.

#pedestriansafety #visionzero #CrashesArentAccidents #fossilfuelsubsidies

#fossilfuelsubsidies: Space needed for different #mobility #modes

https://www.treehugger.com/thmb/yQk61ny-ttzrwI2RvW2yvLVGVrw=/997x638/filters:fill(auto,1)/__opt__aboutcom__coeus__resources__content_migration__treehugger__images__2016__08__modes-67a8cb79b78d442381e327050aa86079.jpg

@gmoke @Sheril the urgency to take action in the midst of the #climatecrisis doesn’t really cut through to the policymakers. A concerted campaign of ads and media snippets similar to conservative election messaging might help. The goal is to make it acceptable to cut subsidies to fossil fuel companies and for industry to transition. It needs to be urgent and it needs to be simple to cut through. Without getting the public to understand that something needs to be done now, policymakers will just cruise on.
#co2pollution #ClimatePollution #fossilfuels #FossilFuelSubsidies

“We need more tax revenue, but don't ask the major parties how we'll get it”
#Stage3TaxCuts #NegativeGearing #FossilFuelSubsidies #PrivateSchoolFunding #IncreaseMedicareLevy
https://www.abc.net.au/news/2023-03-31/teal-mps-future-major-parties-dearth-of-bold-ideas/102166728

@rdns_tai Hopefully (he says more in desperation than optimism) a $368 bn hole means we have to revisit #Stage3TaxCuts, #PrivateEducationFunding, #FossilFuelSubsidies and other rich persons welfare leeching on the Australian purse.

@ChrisMayLA6

If they aren't investing in new projects, where are our tax dollars going? #FossilFuelSubsidies

"Canadians are struggling with the cost of living, while oil companies are reporting record profits and continuing to rake in public subsidies. Meanwhile, Trans Mountain gets the benefit of low interest rates and extended payback periods." #energyextortion #disinformation #fossilfuelsubsidies #ClimateChange
https://www.nationalobserver.com/2023/02/27/opinion/chrystia-freeland-trans-mountain-pipeline-propped-up-canadian-banks

Fossil Fuel Consumption Subsidies Hit All-Time High in 2022: Will We Ever Abolish Them?
#World #Environment #Energy #Business #ClimateChange #RussiaUkraineWar #COP26 #FossilFuel #FossilFuelSubsidies #GlobalEnergyCrisis #GlasgowClimatePact
https://the-14.com/fossil-fuel-consumption-subsidies-hit-all-time-high-in-2022-will-we-ever-abolish-them/

Here is a fresh illustration of what governments call "climate action" or "committing to the Paris Agreement", reported by the International Energy Agency https://www.iea.org/reports/fossil-fuels-consumption-subsidies-2022 #FossilFuelSubsidies #ClimateCrisis #energy

Here is a fresh illustration of what governments call "climate action" and "committing to the Paris Agreement", reported by the International Energy Agency https://www.iea.org/reports/fossil-fuels-consumption-subsidies-2022 #FossilFuelSubsidies #ClimateCrisis #energy

We should all look forward to the day when we’ve decarbonized enough that #FossilFuelSubsidies are no longer the lever by which governments attempt to control consumer prices and inflation.

#Coal #power stations in #NSW are set to receive $500m in price-cap compensation, according to state government sources, further fuelling fears payouts are nearing $1bn. #fossilfuels #FossilFuelSubsidies #globalwarming #coalition #lobbying

https://www.theguardian.com/australia-news/2023/jan/04/nsw-coal-power-stations-set-to-receive-500m-in-price-cap-compensation

RT @stopffsubsidies
Violet has been sentenced to 15 months in prison for action she took to demand the government deal with the aftermath of climate disasters and get ready for the next round of floods and fires.
#IStandWithViolet
#FreeVioletCoco

#FireProofAustralia
#FossilFuelSubsidies

RT @stopffsubsidies@twitter.com

Violet has been sentenced to 15 months in prison for action she took to demand the government deal with the aftermath of climate disasters and get ready for the next round of floods and fires.
#IStandWithViolet
#FreeVioletCoco

#FireProofAustralia
#FossilFuelSubsidies

🐦🔗: https://twitter.com/stopffsubsidies/status/1602118238564847616