The International Monetary Fund (IMF) recently published a report urging the world’s governments to “reform” energy subsidies estimated at $1.9 trillion in 2011. Eliminating government policies designed to rig markets in favor of particular energy companies or industries is a worthy goal. Unfortunately, that’s not the agenda the IMF is pushing.

The IMF seeks to shame U.S. policymakers into enacting a carbon tax. Assuming $25 per ton as the “social cost of carbon” (SCC), the IMF claims the U.S. massively subsidizes coal, gas, and oil — simply by not taxing the carbon content of fuels. Our total energy subsidy is estimated to be $502 billion a year, making America the world’s biggest energy subsidizer!

Not Taxing = Subsidizing?

Some may find the IMF’s terminology counter-intuitive, even Orwellian — as if not taxing carbon is a subsidy on a par with cash payments to politically-preferred companies or industries funded at direct taxpayer or ratepayer expense.…

“[Wind accident] data … is by no means fully comprehensive – CWIF believe that what is attached may only be the ‘tip of the iceberg’ in terms of numbers of accidents and their frequency…. Renewable UK confirmed that there had been 1,500 wind turbine accidents and incidents in the UK alone in the past 5 years. Data here … may only represent 9% of actual accidents. “

– Caithness Windfarm Information Forum (UK), Wind Turbine Accident Data to 31st December 2012.

My latest Forbes Political Energy post, Oil & Gas Isn’t Just One Of The Richest Industries, It’s Also One Of The Safest, examined the improving, impressive safety of the U.S. oil and gas industry compared to the much smaller (but accident prone) industrial wind power industry. The massive height of open-element wind turbines introduces hazards for high-up workers and from falling debris.…

Late last month, Georgia Power (Southern Company) filed its eighth semi-annual report on the construction progress of its 2,240-MW two-unit Vogtle nuclear plant to the Georgia Public Service Commission (GPSC).

The already bad news got still worse–not surprising for a project that is all but financially insulated from its own failure. As I previously wrote at MasterResource:

With a pending $8.6 billion federal loan guarantee, a cap on liability, production tax credits and pre-collection of profits this makes Georgia Power the nation’s biggest welfare queen.

Georgia Power’s latest report to state regulators indulges in self-praise, shifts blame for growing problems, and employs misleading analysis. The Company asks the GPSC to approve an additional $737 million in cost and add 15 months to the project’s schedule. Since Georgia Power has 45.7% ownership, the entire $14 billion project has additional cost of over $1.6 billion.…

“Suggesting that renewables will let us phase rapidly off fossil fuels in the United States, China, India, or the world as a whole is almost the equivalent of believing in the Easter Bunny and Tooth Fairy.”

– James Hansen, Baby Lauren and the Kool-Aid, July 29, 2011.

Climate-change activist James Hansen speaks truth to power when he tells wind + solar = energy advocates “renewable energies are grossly inadequate for our energy needs now and in the foreseeable future.”  He adds: 

Recently I received a mailing on the climate crisis from a large environmental organization. Their request, letters and e-mails to Congress and the President, mentioned only renewable energies (specifically wind and solar power).

Such a request offends nobody, and it is worthless. Indeed, it is much less than worthless.