According to the New York Times, the White House is asking other G20 governments to discuss cuts in fossil fuel subsidies at their summit next week. See: http://bit.ly/BTqnH
In the GCN's technology research, the fruits of which are in the 'Breaking Through...' report linked on the right hand side here, fossil fuel subsidies came through strongly as a barrier to the deployment of low-carbon technology, as you might expect. Why charge people more through emissions trading schemes for something that you're subsidising to begin with?
Remove the subsidy, but take care to ensure people on low incomes are compensated, especially with ready access to cheap, clean energy.
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