[In the post, Mr. Krugman uses reputable data to show fossil fuels are a huge net cost to US economy.] “For the U.S., the subsidies amounted to $649 billion, which is about $3 million for every worker employed in the extraction of coal, oil and gas… “
In another post by Mr. Krugman — sent by email to me — he says that, “Another comparison, which I didn’t make [referring to above post], is with the market value of fossil fuel production, which in 2017, the comparison year, was less than $300 billion. So the U.S. fossil fuel industry destroys several hundred billion dollars of value every year.”
[COMMENTARY]I made the case almost two decades ago that if all the subsidies for fossil fuels were included in its price, even then there would be a case for renewables!
Greta Versus the Greedy Grifters, by Paul Krugman, January 27, 2020, The New York Times, USA.