GREEN
09/28/2008 05:12 am ET | Updated May 25, 2011

What Will Be The Final Cost To Eliminate Fossil Fuels?

The world is spending $300 billion every year to subsidize fossil fuels that pollute the air, wreck the climate ... and run the world's economy.

So what if we, as taxpayers, stopped spending $300 billion on coal, oil and natural gas, and started spending it instead on wind, sun and water?

That's the question at the heart of a new report from the United Nations Environment Program, which concludes that eliminating fuel subsidies would not only reduce greenhouse gas emissions, but might just inspire new economic growth. (Further, it concludes that fossil fuels subsidies sold as a way to help the poor keep the lights on actually do more to help the rich.)

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