“International Monetary Fund managing director Kristalina Georgieva reminded everyone that the $1.3 trillion the fossil fuel industry receives in direct public subsidies is exactly what’s needed to invest in climate and nature solutions.”
Countries have subsidized startup industries and private-public infrastructure buildouts for over one hundred years; through direct monetary grants, land grants, university research funding, private-public partnerships, tax incentives and subsidies, pennies on the dollar extraction fees and royalties, and smoke filled back room deals. Over hundred fifty years ago it was canals and railroads in this country. Most recently it’s been Covid vaccines. It amazes me that fossil fuel industries from coal to oil and gas extraction can still be in a startup industry mode in need of direct and indirect government assistance after over one hundred years.
They don’t even clean up their mess when they’re done.
“International Monetary Fund managing director Kristalina Georgieva reminded everyone that the $1.3 trillion the fossil fuel industry receives in direct public subsidies is exactly what’s needed to invest in climate and nature solutions.”
Countries have subsidized startup industries and private-public infrastructure buildouts for over one hundred years; through direct monetary grants, land grants, university research funding, private-public partnerships, tax incentives and subsidies, pennies on the dollar extraction fees and royalties, and smoke filled back room deals. Over hundred fifty years ago it was canals and railroads in this country. Most recently it’s been Covid vaccines. It amazes me that fossil fuel industries from coal to oil and gas extraction can still be in a startup industry mode in need of direct and indirect government assistance after over one hundred years.
They don’t even clean up their mess when they’re done.