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    The $5.3 Trillion Energy Subsidy Problem
    Posted on Monday, May 25, 2015 @ 02:19:14 EDT by vlad

    Legal From NextBigFuture: US$5.3 trillion; 6½ percent of global GDP—that is the IMFs latest reckoning of the cost of energy subsidies in 2015. The figure likely exceeds government health spending across the world, estimated by the World Health Organization at 6 percent of global GDP, but for the different year of 2013. They correspond to one of the largest negative externality ever estimated. They have global relevance. And that’s not all: earlier work by the IMF also shows that these subsidies have adverse effects on economic efficiency, growth, and inequality.

    What are energy subsidies ?




    We define energy subsidies as the difference between what consumers pay for energy and its “true costs,” plus a country’s normal value added or sales tax rate. These “true costs” of energy consumption include its supply costs and the damage that energy consumption inflicts on people and the environment. These damages, in turn, come from carbon emissions and hence global warming; the health effects of air pollution; and the effects on traffic congestion, traffic accidents, and road damage. Most of these externalities are borne by local populations, with the global warming component of energy subsidies only a fourth of the total...

    Full story: http://nextbigfuture.com/2015/05/the-53-trillion-energy-subsidy-problem.html


     
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    Most read story about Legal:
    Formation of Archer Energy Systems, Inc.


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    "The $5.3 Trillion Energy Subsidy Problem" | Login/Create an Account | 1 comment | Search Discussion
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    Why Didnít Safer Nuclear Power Catch On? (Score: 1)
    by vlad on Monday, May 25, 2015 @ 23:34:05 EDT
    (User Info | Send a Message) http://www.zpenergy.com
    Tyler Bass
    Forbidden Knowledge TV
    May 23, 2015

    The administrator of Oak Ridge National Laboratory during the Manhattan Project, Alvin Weinberg, evangelized the use of reactors running on molten salts like liquid thorium. According to Wired magazine, Admiral Hyman Rickover, the "father of the nuclear Navy' who favored uranium fuel for its use in making warheads, helped force out Weinberg and the scientist’s dream of clean, safe nuclear energy. Kirk Sorenson explains the workings of liquid fluoride thorium reactors, or LFTRs, which are finally picking up steam following decades of alleged arms-industry suppression. -

    See more at: http://www.forbiddenknowledgetv.com/videos/suppressed-technology/liquid-fluoride-thorium-reactors-in-5-minutes.html#sthash.UZNpZiE8.dpuf [www.forbiddenknowledgetv.com]



     

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