Wudi@feddit.uk to Mildly Infuriating@lemmy.worldEnglish · 15 days agoUS Energy Secretary: “I'm thrilled to report that tomorrow morning, on July 4th, we will end subsidies for wind and solar projects”cdn.imgchest.comvideomessage-square230linkfedilinkarrow-up11file-text
arrow-up11videoUS Energy Secretary: “I'm thrilled to report that tomorrow morning, on July 4th, we will end subsidies for wind and solar projects”cdn.imgchest.comWudi@feddit.uk to Mildly Infuriating@lemmy.worldEnglish · 15 days agomessage-square230linkfedilinkfile-text
minus-squareGoatSynagogue@lemmy.worldlinkfedilinkEnglisharrow-up0·14 days agoYeah, they should. I’m all for that. The difference is that mining is still incredibly profitable without subsidies. They shouldn’t be getting subsidies. They don’t need them. Renewables, on the other hand, need subsidies. Without them investment in renewables dries up because it’s not profitable.
minus-squareWildmimic@anarchist.nexuslinkfedilinkEnglisharrow-up0·14 days agoThey only need subsidies because the costs of fossil fuels get externalized. If every fossil fuel company had to sequester all the CO2 they just dump into the atmosphere, they would probably go bankrupt.
Yeah, they should. I’m all for that.
The difference is that mining is still incredibly profitable without subsidies. They shouldn’t be getting subsidies. They don’t need them.
Renewables, on the other hand, need subsidies. Without them investment in renewables dries up because it’s not profitable.
They only need subsidies because the costs of fossil fuels get externalized. If every fossil fuel company had to sequester all the CO2 they just dump into the atmosphere, they would probably go bankrupt.