Screen Shot 2015-05-21 at 2.37.28 PM“A new report from the International Monetary Fund makes a compelling case for why countries should end subsidies for fossil fuels: It would save millions of lives.Governments subsidize energy in many ways. Some countries sell gasoline and diesel at prices lower than the cost of producing or importing those fuels. But by far the biggest way countries reduce the price of energy is by not taxing it enough to account for the damage that burning fossil fuels causes to human health and to the climate.The arguments for cutting subsidies are not new. But the I.M.F.’s exhaustive research makes the case even stronger and more timely. The fund calculates that by raising taxes on fossil fuels, basically eliminating the subsidies, nations would reduce premature deaths caused by air pollution by 55 percent. That would make a big dent in the 3.7 million premature deaths that the World Health Organization links to all outdoor air pollution for just 2012.” The New York Times (Editorial Board). Read it on

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