COMMENT: What fossil fuel subsidies?

June 18, 2012 5:04 PM

Matthew Sinclair writes for the Spectator's Coffee House blog on the campaign to end fossil fuel subsidies.
The environmental movement hasn’t responded well to the setbacks it has suffered seen since the failure of the Copenhagen climate conference.  The #endfossilfuelsubsidies campaign — trending worldwide on Twitter this morning — is the latest example of their descent.

To be clear, fossil fuel subsidies are not a good idea; that is why governments like ours don’t offer them. Fossil fuels are huge cash cows for every western government.  When someone fills up their car with petrol, around sixty per cent of the pump price goes to the Exchequer. When an oil company drills in the North Sea and extracts a barrel the amount that the Treasury gets varies but it is invariably a substantial share of the price, and the sector was raided again at Budget 2011. The idea that fossil fuels are subsidised by the British government is silly. To the extent that there is support, it is for things like carbon capture and storage designed with environmental objectives in mind.

Click here to read the full article 

Matthew Sinclair writes for the Spectator's Coffee House blog on the campaign to end fossil fuel subsidies.
The environmental movement hasn’t responded well to the setbacks it has suffered seen since the failure of the Copenhagen climate conference.  The #endfossilfuelsubsidies campaign — trending worldwide on Twitter this morning — is the latest example of their descent.

To be clear, fossil fuel subsidies are not a good idea; that is why governments like ours don’t offer them. Fossil fuels are huge cash cows for every western government.  When someone fills up their car with petrol, around sixty per cent of the pump price goes to the Exchequer. When an oil company drills in the North Sea and extracts a barrel the amount that the Treasury gets varies but it is invariably a substantial share of the price, and the sector was raided again at Budget 2011. The idea that fossil fuels are subsidised by the British government is silly. To the extent that there is support, it is for things like carbon capture and storage designed with environmental objectives in mind.

Click here to read the full article 

Latest Blogs:

TaxPayers' Alliance Icon

Management of the defence estate

11:56 AM 23, Mar 2017 Jan Zeber

TaxPayers' Alliance Icon

Local Authority Facility Time

1:00 AM 14, Mar 2017 James Price

TaxPayers' Alliance Icon

TaxPayers' Alliance respond to the Spring Budget 2017

2:10 PM 08, Mar 2017 The TaxPayers' Alliance

TaxPayers' Alliance Icon

Submission to the Treasury Select Committee - February 2017

9:45 AM 02, Mar 2017 The TaxPayers' Alliance