Fossil fuels subsidised by $10m a minute, says IMF
The Guardian UK
Fossil fuel companies are benefitting from global subsidies of $5.3tn (£3.4tn) a year, equivalent to $10m a minute every day, according to a startling new estimate by the International Monetary Fund. The IMF calls the revelation “shocking” and says the figure is an “extremely robust” estimate of the true cost of fossil fuels. The $5.3tn subsidy estimated for 2018 is greater than the total health spending of all the world’s governments. The vast sum is largely due to polluters not paying the costs imposed on governments by the burning of coal, oil and gas.
The IMF Tells a Half-Truth
It’s certainly helpful to have an accounting of the externalities of our collective fossil fuel consumption. But the choice of the word “subsidies” over the more precise “externalities” makes a difference: governments can cancel subsidies in the forms of tax breaks and gifts, but they can’t so easily cancel fossil fuel externalities without curtailing fossil fuel consumption—and that’s a big job, if they’re to do it in a way that doesn’t entail the rapid, uncontrolled collapse of society.
Can the world economy survive without fossil fuels?
Larry Elliott, The Guardian UK
In terms of reducing global poverty capitalism has been a success, but this growth has put pressure on the planet. The question, therefore, is whether it is possible to marry two seemingly contradictory objectives. Can we imagine a future that is cleaner, greener and sustainable – one that avoids climate armageddon – without abandoning the idea of growth and, thus, forcing living standards into decline? The answer is that it will be hellishly difficult, but it is just about feasible if we make the right choices – and start making them now.
Seven Surprising Realities Behind The Great Transition to Renewable Energy
Earth Policy Institute
The global transition to clean, renewable energy and away from nuclear and fossils is well under way, with remarkable developments happening every day. The Great Transition by Lester Brown, Janet Larsen, Matt Roney, and Emily Adams lays out a tremendous range of these developments – here are seven that may surprise you.
How Sustainable is PV Solar Power?
Low Tech Magazine
It’s generally assumed that it only takes a few years before solar panels have generated as much energy as it took to make them, resulting in very low greenhouse gas emissions compared to conventional grid electricity. A more critical analysis shows that the cumulative energy and CO2 balance of the industry is negative, meaning that solar PV has actually increased energy use and greenhouse gas emissions instead of lowering them.
The Counterfeit Shale Revolution (pdf)
The shale revolution is counterfeit. Tight oil and shale gas are imitations of something valuable and shale promoters intentionally deceive the public about their true value. It is counterfeit because the cost of produc4on is more than the global economy can bear. Producers and analysts deceive the public with misleading and incorrect break-even prices that exclude important costs or are based on exaggerated reserves. There is no shale revolution: it is a final, desperate effort to squeeze the last remaining petroleum from the worst possible rock.
Are we approaching peak population growth?
Since the 18th century, the world population has seen a rapid increase; between 1900 and 2000 the increase in world population was three times as great as the increase during the entire previous history of humankind – in just 100 years the world population increased from 1.5 to 6.1 billion. But this development is now coming to an end, and we will not experience a similarly rapid increase in population growth over the course of this century.
Book Review of ‘Overshoot’ by William R. Catton Jr.
Craig Straub, The Social Contract
Catton concludes that the human community is condemned to bet on an uncertain future. Misperception of the human situation will motivate efforts to pursue solutions which make matters worse. An ecological understanding of the human predicament will help avoid constructing “the road to hell paved with good intentions.”