The energy game is rigged in favor of fossil fuels because we omit the environmental and health costs of burning coal, oil, and natural gas from their prices. Subsidies manipulate the game even further. According to conservative estimates from the Global Subsidies Initiative and the International Energy Agency (IEA), governments around the world spent more than $620 billion to subsidize fossil fuel energy in 2011.
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We distort reality when we omit the health and environmental costs associated with burning fossil fuels from their prices. When governments actually subsidize their use, they take the distortion even further. Worldwide, direct fossil fuel subsidies added up to roughly $500 billion in 2010.
There is a great deal of controversy about the wisdom of diverting a significant percentage of the US corn crop into the production of ethanol to fuel cars. Something like 25-30% of the crop will probably be used this way in 2011 which sounds alarming in the face of global food supply issues that have […]