Charted: $5 Trillion In Fossil Fuel Subsidies
With energy consumption vital for life and business, governments often look to fossil fuel subsidies to make energy as affordable as possible. Q4 2021 hedge fund letters, conferences and more These subsidies artificially reduce the price of fossil fuels and generally take two forms: Production subsidies occur when governments provide tax cuts or direct payments that reduce the cost of producing coal, oil, or gas.Consumption subsidies cut fuel prices for the end-user through price controls and other such measures.Each year, governments around the world pour nearly half a trillion dollars into f...