A Fraction of What We Pay in Fossil Fuel Subsidies Could Fund a Just Transition

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Politics And The Markets 05/05/25

A Fraction of What We Pay in Fossil Fuel Subsidies Could Fund a Just Transition

^{Published on 2025-05-19 14:00:30 - Truthout}

- Phasing out fossil fuel subsidies must be tied to new subsidies that raise living standards for working and poor people.

The article from Truthout discusses how the U.S. government's fossil fuel subsidies, which amounted to $646 billion in 2021, could be redirected to fund a just transition to renewable energy. It highlights that this sum is significantly larger than the $100 billion needed annually to achieve a just transition, as estimated by the International Energy Agency. The piece argues that such a reallocation of funds could address climate change, create jobs, and promote energy democracy, while also critiquing the current administration's continued support for fossil fuels despite global climate commitments. The article emphasizes the need for a systemic shift away from fossil fuels to ensure a sustainable and equitable future.

Read the Full Truthout Article at:
[ [ https://truthout.org/articles/a-fraction-of-what-we-pay-in-fossil-fuel-subsidies-could-fund-a-just-transition/ ] ]

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