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Yet another article citing the IMF's estimates of "post tax subsidies" to fossil fuels that repeats the idea that American is "spending" more on FF subsidies than it is on defense. 1/6
cc: @JohnnaCrider0 https://cleantechnica.com/2020/08/21/joe-bidens-presidency-would-re-establish-america-as-a-climate-leader/
Yet another article citing the IMF's estimates of "post tax subsidies" to fossil fuels that repeats the idea that American is "spending" more on FF subsidies than it is on defense. 1/6
cc: @JohnnaCrider0 https://cleantechnica.com/2020/08/21/joe-bidens-presidency-would-re-establish-america-as-a-climate-leader/
Quote: "Just last year, it was noted that the U.S. subsidized the fossil fuel industry to the tune of up to $649 billion each year. This is more than America spends on defense!! Why do we waste this money?" 2/6
The "we" in this case is not the federal government, except for around $1 billion of that $649 billion, and it is not the "fossil-fuel industry" that is being subsidized, but fossil-fuel consumption. The IMF numbers would be just as large if the USA imported all its FFs. 3/6
As Eve Andrews ( @eefandrews) writes: "[I]nstead of asking 'How much am I paying to fossil fuel companies in subsidies?' the better question might be, 'How much should I be paying for fossil fuels?'" 4/6
https://grist.org/ask-umbra/the-dnc-wont-oppose-fossil-fuel-subsidies-how-much-am-i-paying-for-them/ via @grist
https://grist.org/ask-umbra/the-dnc-wont-oppose-fossil-fuel-subsidies-how-much-am-i-paying-for-them/ via @grist
One important detail of note: 28% of the $649 billion in 2015 represents DRIVING externalities (costs related to traffic congestion, accidents, and road wear and tear) -- costs that would be equally large if all ICE vehicles were replaced by EVs. Those r not FF-related. 5/6
If journalists are going to cite estimates of subsidies & tax breaks benefiting oil, natural gas or coal companies operating in the USA, they would be on much more firm ground citing the $15 billion/yr number mentioned in the Omar-Sanders bill. 6/6 https://350.org/press-release/omar-sanders-bill-end-ff-subsidies/
