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5 reasons why low oil prices are good for the environment

2015-01-18 19:59:00| Climate Ark Climate Change & Global Warming Newsfeed

Eco-Business: Low oil prices are to be cheered: may they stay low for a long time and decrease even further. Here are five reasons why they are great for our health and that of the planet. 1. The end of fossil fuel subsidies Our binge on fossil fuels is partly driven by gigantic subsidies. Low oil prices allow these to be tackled without a material impact on consumer (read voter) pockets. According to the IMF, we subsidise fossil fuels by 1.3tn each year, with US subsidies alone amounting to 333 bn. Leadership...

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