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IPFS News Link • Government Waste

Shock Report: Your Taxes Subsidize Dirty Oil Corporations By $5.3 TRILLION

• True Activist

A recent paper released by the International Monetary Fund (IMF) should shock all of us who believe in a green future based on renewable energy. Despite stark warnings from scientists, fossil fuel subsidies continue to grow: this year alone, it is estimated that dirty coal and energy corporations will receive a staggering $5.3 trillion from governments worldwide.

To put this into perspective, the sum is more than the healthcare budget of all the countries in the world combined. It works out at $600 million per hour, $10 million per minute, and $200,000 per second. Just imagine what we could do with that kind of money. We could eradicate poverty, invest in clean energy, boost health and education systems, start a food revolution, and create more jobs in these industries as a result. Instead of the logical option, our governments choose to spend our tax dollars on propping up the same corporations that are poisoning us and the planet (while making ridiculously huge profits at the same time).


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