Breaking Down Global Subsidies for Fossil Fuels
Energy Gang
Wood Mackenzie
4.6 • 1.3K Ratings
🗓️ 23 May 2019
⏱️ 57 minutes
🧾️ Download transcript
Summary
A new report from the International Monetary Fund shows that the world spent $5.2 trillion on fossil fuel subsidies in 2017. That’s half a trillion dollars more than in 2015.
But it also shows that fossil fuel subsidy spending is down by half since 2012. What gives? How much are we actually spending to make fossil fuels cheaper?
We’ll clarify the different ways economists are measuring that spending.
Then, U.S. tax subsidies for solar and wind are set to ramp downward as part of a deal struck in 2015. But some are calling for an extension of those credits once again.
Wait, didn’t the industry say it would be just fine without them? We’ll look at arguments for and against another extension.
Finally, PG&E is warning California customers about planned blackouts during this year’s fire seasons. Does this open up a new opportunity for commercial microgrids and residential battery backup?
Recommended reading:
- Atlantic: The Hidden Subsidy of Fossil Fuels
- GTM: US Solar Industry Braces for ITC Stepdown While Making the Case for Another Extension
- Bloomberg: Democrats Try to Extend Wind, Solar Aid They Agreed to Let Die
- SF Chronicle: Fire Danger Could Force SF Blackout, PG&E Says
Support for this podcast comes from PG&E. Did you know that 20 percent of EV drivers in the U.S. are in PG&E’s service area in Northern California? PG&E is helping to electrify corporate fleet vehicles. Get in touch with PG&E’s EV specialists to find out how you can take your transportation fleet electric.
We're also sponsored by Wunder Capital. Wunder Capital is the leading commercial solar financing company in the United States. Click here to find out how Wunder Capital can help you finance your next commercial solar project.
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Transcript
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| 0:00.0 | Hey folks a quick note before we start as you know we support this show through an ad-based model and sometimes we read ads for companies that we cover |
| 0:08.1 | So this week later in the show we're gonna be talking about PG&E |
| 0:11.5 | Just so it's clear to everyone. |
| 0:13.4 | Our sponsors do not have influence on our coverage. |
| 0:17.1 | The editorial decisions on this show |
| 0:18.8 | are made independently. |
| 0:20.1 | Now, sometimes we do post-sponsored episodes. you'll see those in the feed occasionally. |
| 0:25.2 | Those are clearly labeled and done in a different style, but our advertisers do not have a say |
| 0:30.6 | in the regular editorial content of this podcast. |
| 0:34.0 | Well, now that that's out of the way, let's talk about our sponsors. |
| 0:38.0 | We are supported by PG&E, and PG&E is committed to boosting electric vehicles, not just for single drivers, but for whole fleets. |
| 0:45.8 | If you want to take your corporate or municipal transportation fleets electric, |
| 0:49.3 | PG&E has you covered with logistical and technical support, get in touch with PG&E's |
| 0:54.2 | EV specialist to find out how you can take your transportation electric. |
| 0:58.6 | Find out more at PGE.com slash GTM. |
| 1:02.4 | Support for the Energy Gang also comes from Wonder Capital. |
| 1:05.3 | You know we've been telling you that Wonder can finance your commercial or |
| 1:08.7 | community solar projects and we've been telling you about the speed at which they can do it, lightning speed. |
| 1:15.0 | But did you know they now have lower rates and can finance all kinds of projects. |
| 1:20.0 | That's right, head on over to wonder Capital.com slash GTM to experience the |
| 1:25.0 | Wonder difference and see what kind of projects they can help you with. From Green Tech Media, this is the Energy Gang. Weekly debates and discussions on the fast-changing world of energy. |
| 1:40.0 | I'm Stephen Lacey, a contributing editor at GTM. Welcome all to the show. |
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