Global Financial Leaders Recommend Cutting Fossil Fuel Subsidies

[GoLeft TV]

Global financial institutions including the International Monetary Fund and the World Bank have released a new set of recommendations for G20 countries to meet their goal of providing $100 billion a year in aid for developing nations to combat climate change. In addition to calls for charges on carbon emissions and higher prices for carbon-intensive fuels, the financial experts said the first source of funding should come from redirecting fossil fuel subsidies.

In a move that will surely leave the dirty energy industry in a fit of rage, global economists said that fossil fuel subsidies should be cut and redirected towards helping developing nations fight climate change. The total amount spent on industry subsidies for G20 countries is currently $60 billion a year, more than half of what the countries have pledged to spend per year on climate initiatives and renewable energy projects.

Read the full story at DeSmogBlog - http://desmogblog.com/global-financial-leaders-recommend-cutting-fossil-fuel-subsidies

[DJ13]

1. Great timing

In the midst of the worst recession since 1929, removing subsidies will cripple the lower classes worldwide.

These pencil pushers need to look outside their little cubicle and recognize the collateral damage their narrow focused brain farts result in.

[kristopher]

2. How much do you think it woud cost you personally?

[DJ13]

3. I have no idea, but as tight as things have gotten the last 2 yrs, any amount is too much

Bad economies are not the time to do economic social engineering.

[kristopher]

4. You support continued subsidies for the most profitable corporations on the planet?

Seriously? You think it is a good idea to give tax money TO the oil companies???

[NickB79]

5. My god, that sounds just like the RW bitching about raising taxes on millionaires

With the faulty premise that it will hurt the economy because they're "job creators."

Has giving billions of dollars a year to the fossil fuel industry gotten us any cheaper fuel in the past decade?

[DJ13]

6. What a load of crap

Im talking about the prices consumers would end up paying increasing at a bad time.

Im NOT talking about the mythical "job creators".

[txlibdem]

7. What's missing from your logic is that you've already been paying whatever extra amount you imagine

You are already paying, with your taxes. Just because the cost isn't reflected at the pump (or in your electric bill) doesn't mean that you aren't footing 100% of the bill already. Who pays for the military to keep the oil shipping lanes open? You and I do. Who pays for the $72 billion in direct subsidies to the oil companies (per year)? You and I do. Etc.

You just don't know that you're already paying for the oil execs lives of luxury and all the waste, government bribes, etc., that keep those subsidies coming year after year.

[txlibdem]

9. What social engineering does giving coal/oil/natural gas co.s each year achieve???

These are the most profitable companies in the history of the world. They don't need a penny. All the government is doing is loading up the lobbyists with unlimited campaign bribes... er... campaign donations. And the congress-person needs to be flown on a private jet to Cancun for a golf weekend because that's the golf weekend day and the jet was going there anyway...

Who you pay more equals the outcome you will get more of. If you pay renewable energy companies all that money and none to fossils then you will be doing the right thing and using the money to help and not kill.

[txlibdem]

8. A well-deserved kick

Why are we giving away our tax dollars to the fossil fuels business that are killing us and ruining the environment in so many terrible ways.