Fossil Energy Subsidies: The Bottom Line | Frankly #43
In this Frankly, I wanted to give my reaction to a recent analysis by the International Monetary Fund (IMF) critical of 2022 subsidies to fossil fuels. These subsidies - by IMF math totalling $7+ trillion - are not what they seem, resulting in widespread confusion on what is really going on. By peeling back the layers of the onion we can see what really comprises these fossil fuel subsidies, who receives them, the purpose they serve, and who benefits from them (spoiler alert - we ALL do). How do these subsidies fit into the larger story of the huge energy surplus that fossil fuels have provided? What will it mean for societies when the subsidy that is fossil fuels goes away? Will we be prepared when the externalities - paid for in these subsidies - catch up with us and we need to learn to live with the aftermath of the Carbon Pulse?
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In case you missed it…
In last week’s episode, ‘Superorganisms’ converge as economist/anthropologist Lisi Krall joined me to discuss the evolutionary origins of our current systemic predicament. Starting with the Agricultural Revolution, the evolutionary conditions of surplus and ultrasociality have combined to shape the way humans interact with their environment, ultimately leading to our current out-of-control global economy. What can our evolutionary past tell us about where we’re heading - and perhaps guide us on how to steer towards a ‘better than the default’ future?
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