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this post was submitted on 05 Sep 2023
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Although good news, maybe do something about the fact that every minute 13 million dollar in subsidies is going to fossil fuels... In 2022 the total was 7 trillion, dwarfing the 1 trillion for renewables (globally)
Source: IMF
Would fossil fuels even be profitable anymore if the subsidies were removed, or is the recent history of fossil fuels just a tale in wealth extraction and collusion by a dead industry?
They absolutely would be profitable, it's just that those costs would then be passed on to the consumer. People would see energy costs skyrocket to make up the difference.
The oil companies still have a product most of the world needs and people will (and have) killed to get it. We'd rebel against a government they tried
In order to get passed oil we need to move to alternatives like EVs.
Fuel does have insane taxes on it.