In what is being called the most definitive assessment yet of national emissions pledges aimed at meeting global climate goals, the International Energy Agency on Monday released a major report showing that without “learning to live within its means,” the world is set to miss a critical target. In its World Energy Outlook Special Report 2015: Energy and Climate Change (pdf), the Paris-based agency states that …
Fossil Fuel Subsidies To Hit $5.3 Trillion In 2015, Says IMF – Ed King
Subsidies for fossil fuels that cause climate change have soared since 2013, a new study from the International Monetary Fund has revealed. Oil, gas and coal costs will be subsidized to the tune of US$5.3 trillion a year in 2015. The last time the IMF ran the data it calculated they were worth $1.9 trillion. Economists say the latest figures …
Taxpayer Subsidies for Fossil Fuels on a Warming Planet in One Word: ‘Absurd’ – Jon Queally
A new investigation by the Guardian, highlighting the large campaign contributions given by fossil fuel corporations to lawmakers who then back public subsidies for those same companies, has led presidential candidate Sen. Bernie Sanders (I-Vt.) to describe the arrangement—especially in light of the dangers posed by runaway climate change—with one word: absurd. In their examination of three specific fossil fuel projects run by Shell, …
‘Cynical’ Obamacare Challenge Exposes Persistent Flaw of For-Profit System
The U.S. Supreme Court is hearing oral arguments on Wednesday in King v. Burwell, the case that could decide the future of the Affordable Care Act and the healthcare status of an estimated 9.6 million people who have purchased insurance through HealthCare.gov. “The King v. Burwell case is yet another reason to swiftly move beyond the failing ACA to a simpler, publicly financed, …