G20 commits to phasing out oil subsidies

[andrewl]

Interesting. Imagine a world where Big Oil no longer gets government subsidies.

http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE58O18U20090926

If this actually happens we could all be paying closer to the true cost of energy.

From what i gather though, G20 agreements are not exactly binding.

How does this play out in Canada? The tar sands operation simply would not exist without government subsidies.

Andrew

[Michael]

Interesting. Imagine a world where Big Oil no longer gets government subsidies.
That world just doesn't exist.

How does this play out in Canada? The tar sands operation simply would not exist without government subsidies.
I'll research this further, but as it stands, massive Canadian & Alberta government subsidies to the oil sands appears to be smaller (per capita) than the institutional subsidies the US engages in (some $76 billion per year in direct support) for the oil companies in the USA.

It wouldn't surprise me at all if the data shows that the USA is the one western country that has the largest subsidies going to the oil industry (indeed, I'd expect that result).

Funny thing about US capitalism is the way it is always so dependent upon the taxpayer. :ummm:

[Donkey]

Gotta love fucked up backwards socialism! :D