Fossil fuels still receive most of the international government support provided to the energy sector despite their “well-known environmental and public health damage,” according to new research from Rice University’s Baker Institute for Public Policy.
“There is evidence that fossil fuel subsidies are socially inequitable, that they encourage smuggling and waste, and distort economies in ways that undermine economic efficiency while harming the environment and the climate,” wrote Jim Krane, the Wallace S. Wilson Fellow for Energy Studies at the Baker Institute; Francisco Monaldi, fellow in Latin American energy policy at the Baker Institute; and Walid Matar of the King […]
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