Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/1/2014 (2 years ago)

Catholic Online (www.catholic.org)

Energy subsidies are unnecessary, expensive, and the world is addicted to them.

New reports show that fossil fuels are the most subsidized industries around the world. A report by the BBC blasts this reality, explaining that the industries are hardly "in need of a helping hand."

Energy subsidies send trillions per year up in smoke.

Energy subsidies send trillions per year up in smoke.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

5/1/2014 (2 years ago)

Published in Green

Keywords: Energy, subsidies, addiction, costs, infrastructure


LOS ANGELES, CA (Catholic Online) - Reports from the International Energy Agency (IEA) reports that over half-a-trillion dollars were spent on fossil fuel subsidies in 2012. The International Monetary Fund (IMF), which looks at government subsidies for producers (instead of consumers) says that they received nearly $2 trillion in subsidies.

Meanwhile, the fossil fuel industry remains one of the most profitable industries on the planet generating legendary amounts of wealth.

Join us in the national day of prayer.

The BBC reports that fossil fuels are about 80 percent of our consumption, but that they contribute to greenhouse gas emissions and other harms.

The subsidies, according to the BBC, come in various forms. For example, some subsidies keep the costs of fuel down which encourages consumption. Other subsidies are paid to producers, making it profitable for them to pursue supplies of fossil fuels that would otherwise be unprofitable.

The problem with subsidies is threefold. First, the wealthy benefit the most from subsidies while the poor, who usually lack access to electricity and automobiles, benefit the least. Second, subsidies burn enormous amounts of government wealth on artificially manipulating prices and competition. Although the short-term gains are great, the long-term consequences could prove more severe. Finally, by encouraging consumption of fossil fuels the entire scheme contributes to carbon emissions and global warming.

The problem for governments is that subsidies are very popular with the people, despite their enormous costs. In half of all nations, the energy sector is controlled by the government. All fuel prices are manipulated by governments in a variety of ways including taxes on fuel. Large segments of the population are employed in the energy industries and most people are very sensitive to price shocks.

Any disruption to the status quo is typically met with public protests and can be politically expensive for elected officials. This makes it especially difficult for governments to impose new taxes on energy or to reduce subsidies.

Finally, many nations which manage their own energy production lack the ability to update their infrastructure, which means diminishing returns over time.

The subsidies paid to energy companies usually means there is less money for healthcare, education, and other infrastructure projects.

The BBC admits that while fossil fuel subsidies may go away, they will "be with us for a very long time" and getting rid of them will require massive global political effort.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for May 2016
Universal:
Respect for Women: That in every country of the world, women may be honored and respected and that their essential contribution to society may be highly esteemed.
Evangelization: Holy Rosary: That families, communities, and groups may pray the Holy Rosary for evangelization and peace.



Comments


More Green

Goodbye El Nino! Hello La Nina! What does this mean for the Atlantic Hurricane season? Watch

Image of One impact La Nina has is a more active Atlantic hurricane season.

By Marshall Connolly (CALIFORNIA NETWORK)

Goodbye El Nino! The monster heating anomaly in the tropical Pacific has abated and experts now believe a La Nina event, the cool sister of El Nino, will come to dominate the tropical Pacific for at least the next year to come. It has implications for the United ... continue reading


Scientists surprised by sudden eruption on Costa Rica volcano. Could the same happen at Mt. Rainier? Watch

Image of Turrialba volcano in Costa Rica has erupted without warning.

By Marshall Connolly (CALIFORNIA NETWORK)

A volcano has erupted in Costa Rica with sudden ferocity, surprising experts who did not believe an eruption was imminent. The plume of ash from the volcano has caused flights to be canceled or diverted. Hundreds of people have reported to the hospital with reports of ... continue reading


Is a Mt. St. Helens eruption imminent? Here's the secret you're not being told Watch

Image of Mt. Rainier as seen from Tacoma. Is this giant awakening from a long sleep? Are the people prepared if so?

By Marshall Connolly (CALIFORNIA NETWORK)

A researcher, who has studied volcanoes for decades, has reached out to Catholic Online to share new information about volcanic activity in the Pacific Northwest. It appears activity is spiking in the region, and neither the public, nor geologists, may be fully ... continue reading


Eruption imminent? Mt. St. Helens quakes as magma rises Watch

Image of Mt. St. Helens steams in this image showing the new dome within the crater.

By Marshall Connolly (CALIFORNIA NETWORK)

Over the past month, we've warned about volcanoes, earthquakes, and what feels like a sudden uptick in global activity.  Although all of the activity seems to fall within "normal" levels, it is still above average and making people uneasy. Now, new reports show ... continue reading


SEE THE SIMULATION: There's a monster sleeping in Southern California and when it wakes, there will be hell to pay Watch

Image of Worse than any shaking, will be the devastation to infrastructure upon which tens of millions of people rely for survival.

By Marshall Connolly (CALIFORNIA NETWORK)

Earthquakes are making the news, not because they're happening, but because they will happen soon, and they will be more violent than anything in recent memory. Great quakes threaten both the Eastern U.S. and the Pacific coast. Now a new revelation about the San ... continue reading


The Eastern U.S. rides atop a horrifying geologic secret. Are you sure you want to know? Watch

Image of The Eastern U.S. could have a major quake of its own, even larger than those that strike the Western U.S.

By Marshall Connolly (CALIFORNIA NETWORK)

Scientists have a new explanation for why mysterious quakes strike the Eastern U.S. when no fault lines are present. The crust of the earth is falling away beneath your feet. LOS ANGELES, CA (California Network) - Contrary to popular belief, Californians don't have a ... continue reading


Skinned alive and left to rot: 'I have no sympathy' (WARNING: GRAPHIC IMAGES) Watch

Image of Animals are inhumanely treated then killed in the name of fashion (TL McCormick).

By Kenya Sinclair (CALIFORNIA NETWORK)

Soft, cuddly, adorable little animals are slaughtered by the thousands in the name of commerce. One Russian fur farmer even admitted she felt satisfaction as she skinned some animals alive or injected them with lethal, but inhumane, drugs that slowly suffocate the ... continue reading


Thoughtcrime or free speech? Oil companies face prosecution for climate change denial, but should they? Watch

Image of Foolish to disbelieve in global warming? Perhaps. 

Criminal? No.

By Marshall Connolly (CALIFORNIA NETWORK)

At what point does it become criminal to promote an idea? Can any idea actually be off limits? These are questions that must be considered as the U.S. government begins a literal witch-hunt against climate change deniers and their corporate sponsors. LOS ANGELES, CA ... continue reading


'We see it:' The realities of global warming are finally accepted around the world Watch

Image of The Paris climate agreement saw Sen. Jeff Merkley state global warming is one of the greatest challenges of our generation (AFP).

By Kenya Sinclair (CALIFORNIA NETWORK)

With more and more nations agreeing that climate change is not only real, but also dangerous, more world leaders are making a move to save the planet. LOS ANGELES, CA (Catholic Online) - Senator Jeff Merkley took the Senate floor last week to say global warming is one ... continue reading


Volcanoes erupting everywhere! Is this a sign? Watch

Image of Popocatepetl erupts in Mexico. Prominent volcanoes in Russia and North Korea are also erupting.

By Marshall Connolly (CALIFORNIA NETWORK)

Thirty-eight volcanoes are erupting right now. Earthquakes are making the news. Is something supernatural about to occur? LOS ANGELES, CA (Catholic Online) - "Take care that no one deceives you," Jesus admonished his disciples in the book of Matthew. The Disciples were ... continue reading


All Green News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • Advent Prayer HD Video
  • St. Joan of Arc: Saint of the Day for Monday, May 30, 2016
  • Daily Reading for Wednesday, June 1st, 2016 HD Video
  • WARNING: GRAPHIC IMAGES Killer nanny asks judge for freedom because ...
  • Daily Readings for Monday, May 30, 2016
  • Your Daily Inspirational Meme: God is Good
  • Christians stand your ground: Graduating class recites The Lords ...

Daily Readings

Reading 1, Second Peter 1:2-7
2 Grace and peace be yours in abundance through the knowledge of our ... Read More

Psalm, Psalms 91:1-2, 14-15, 15-16
1 You who live in the secret place of Elyon, spend your nights in the ... Read More

Gospel, Mark 12:1-12
1 He went on to speak to them in parables, 'A man planted a vineyard; he ... Read More

Saint of the Day

Saint of the Day for May 30th, 2016 Image

St. Joan of Arc
May 30: St. Joan of Arc is the patroness of soldiers and ... Read More