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The true cost of fossil fuel subsidies, free traders' edition
Monday's study, authored by Yale University economist Matthew Kotchen, explores "implicit subsidies," which are different the traditionally thought-of government tax benefits provided directly to corporations. (Those are called "direct subsidies," and fossil fuel companies get about $20 billion of those per year).

Implicit subsidies are financial benefits fossil fuel companies receive indirectly, because current U.S. policy does not make them pay for most of the externalized costs of their products: namely, "environmental damages, public health effects, and transportation-related costs."

archived How Do You Pay for the Green New Deal: Cost of Fuel
by Cat on Wed Apr 7th, 2021 at 02:28:01 PM EST
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