More on "Highway To Hill"

As stated in the previous blog, Dr. Gergis' essay contains so much factual data that it is easy to miss a lot that should be included. "Given that the primary cause of our warming planet is the burning of fossil fuels, the first thing we need to do to limit global warming is immediately stop subsidising the production and use of coal ,oil and gas"

Apparently, in 2022, direct fossil fuel subsidies globally,more than doubled from half a trillion US dollars to US$1.3 trillion. When you factor in indirect subsidies that include the costs imposed by undercharging for environmental and social impacts like premature deaths from exposure to air pollution and lost government revenue from under -taxing polluters, it brings the total subsidy figure to US$7 trillion in 2022.

The Australia Institute has calculated that in the 2022/23, financial year, Australian federal and state governments provided $11.1 billion in subsidies to the fossil fuel industry.

The fuel tax credit scheme, which refunds tax paid on the use of diesel and petrol to support large mining projects, was the big- ticket item, accounting for $8 billion. Thats more than the governments spending on the Australian Army. And so it goes?

"Underpricing the true cost of fossil fuels means that governments forgo a valuable source of revenue needed to fund the the clean energy transition, climate change adaption and the repair of carbon absorbing ecosystems.

Instead, the profits continue to fatten the coffers of private corporations. For example, the worlds five largest oil companies - BP, Shell,Chevron. Exxonmobil and TotalEnergies have made more than a quarter of a trillion dollars since Russia's invasion of the Ukraune in February 2022"

Our political parties should be required to explain their reasoning for all these outcomes. There is no doubt that successive governments have sold all of our so-called resources far too cheaply, over many decades. With better government we would be a far healtheir and wealthier Nation.

www.movementforbetter government.com.au