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Ending oil subsidies would most likely lead to some short-term price hikes. To mitigate you could use targeted support for low-income households but that’s “giving money to the poor” and unlikely to happen seeing our current situation.
There is also a question of all the jobs in the industry. Sure many people would find jobs in renewables but overall it’s a complex problem.
Another thing to mind is the potential geopolitical shifts this will bring.
Ending oil subsidies would most likely lead to some short-term price hikes. To mitigate you could use targeted support for low-income households but that’s “giving money to the poor” and unlikely to happen seeing our current situation.
There is also a question of all the jobs in the industry. Sure many people would find jobs in renewables but overall it’s a complex problem.
Another thing to mind is the potential geopolitical shifts this will bring.