Re:The Arctic Is Warming Four Times Faster Than the Rest of ...
by fallingknife on Tuesday December 14, 2021 @01:57PM
(#29555758)
What exactly are all the subsidies that go to fossil fuels? It's always assumed to be true but I just don't see it.
[ Parent
| on HN ]
Re:The Arctic Is Warming Four Times Faster Than the Rest of ...
by standardUser on Tuesday December 14, 2021 @03:56PM
(#29557577)
Much of the money the US spends to keep carbon emissions flowing full speed is in the form of securing foreign sources of oil.
"US spends $81 billion a year to protect global oil supplies, report estimates"
https://www.cnbc.com/2018/09/21/us-spends-81-billion-a-year-...
Re:The Arctic Is Warming Four Times Faster Than the Rest of ...
by Heliga on Tuesday December 14, 2021 @02:28PM
(#29556192)
Billions a year for the last hundred years (or whenever the technology became available). [1] This does not represent all of the subsidies, indirect and direct, nor the huge advantage that fossil fuel industry enjoys with millions to spend on lobbying and purchasing senators, that is, when the senators aren't already getting rich in the fossil fuel industry (see Joe Manchin and every 1 in 4 senators)[2].
[1] https://cen.acs.org/articles/89/i51/Long-History-US-Energy-S...
[2] https://www.salon.com/2021/11/07/one-in-four-us-senators-sti...
Re:The Arctic Is Warming Four Times Faster Than the Rest of ...
by cronix on Tuesday December 14, 2021 @02:30PM
(#29556225)
Here's a recent one. Dumping some of the strategic oil reserve into the supply to artificially lower fuel costs, otherwise known as a subsidy (Monetary assistance granted by a government to a person or group in support of an enterprise regarded as being in the public interest).
> Today, the President is announcing that the Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply.
https://www.whitehouse.gov/briefing-room/statements-releases...
Re:The Arctic Is Warming Four Times Faster Than the Rest of ...
by fallingknife on Tuesday December 14, 2021 @02:41PM
(#29556410)
This would be the opposite of a subsidy as it lowers the market price and will actually lower the profits of oil producers.