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Ronald Steenblik@ronsteenblik.bsky.social |
Note: $1.2 trln of the $5.7 trln in externalities are "vehicle externalities", such as those related to traffic congestion and accidents. They would be at least that large if all vehicles on the world's roads were powered by batteries recharged with solar power. They are not specific to petroleum.
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Ronald Steenblik
@ronsteenblik.bsky.social
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So, in other words, “scaling back” $7 trillion in fossil fuel subsidies, using the confusing IMF terminology, means: • Substantially raising domestic prices for fuels and electricity in OPEC+ countries, and former exporters, like Indonesia. • Levying very high carbon, pollution, and congestion …
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