MATHEW CARR – Subsidies for fossil fuels are overwhelming efforts to curb pollution, the International Energy Agency said. Tax-breaks, subsidized fuel prices and other government support amount to an incentive to pollute worth $115 per metric ton of carbon-dioxide, the agency said Monday in its Energy and Climate Change report. That compares with an average $7 cost to buy emission permits in carbon markets, according to the Paris-based group.
Tag: fossil fuel subsidies
Americans Oppose Fossil Fuel Subsidies
ANTHONY LEISEROWITZ – In his new proposed federal budget, President Obama called on Congress to repeal more than $4 billion a year in subsidies for the fossil fuel industry, arguing that these “inefficient fossil fuel subsidies…impede investment in clean energy sources and undermine efforts to address the threat of climate change.”