According to Tom Hartmann..https://substack.com/@thomhartmann— “The world is subsidizing the fossil fuel industry’s efforts to destroy our planet at a rate of $13 million per minute.
A new report from the International Monetary Fund (which has funded fossil fuel projects in the past, so they’re not likely exaggerating), the total amount of subsidies given to fossil fuel billionaires and their companies last year was around $7 trillion, or about 7 percent of global GDP.
The biggest culprits are, in descending order, China, the US, Russia, the EU, and India. Here in America we give around $600 billion in subsidies every year to the fossil fuel industry, and that doesn’t even begin to count the costs we pay for cleaning up the industry’s messes, from abandoned wells and coal mines to rebuilding cities destroyed by climate-change-caused violent weather and fires.
This is insane, and must stop immediately. The IMF calculates that if the world’s subsidies were to end this year, next year would see a 34% decrease in the use of fossil fuels because they’d become so much more expensive. While we can’t control the rest of the world, we can set an example by cutting off American fossil fuel companies and their billionaires from our absurd taxpayer-funded subsidies: call your members of Congress at 202-224-3121 and let them know you support ending fossil fuel subsidies.”
Better yet, today is the annual Jefferson County Democratic fundraiser. Perhaps it’s worth reminding our elected officials.
And here’s a song to sing to these people who just can’t seem to stop killing the planet for their own greed.
Filed under: Environmental Activism, Global Warming, Olympic Peninsula | Comments Off on We are subsidizing our own demise.