From Bjorn Lomborg's page on Facebook:
He made these comments on Facebook, linking to this article in The Economist. He has an excellent way of identifying the problems of opportunity costs and spin-off effects.
Cut the fossil-fuel subsidies and it reduces massive distortions and inefficiencies in the economy.
An added benefit is that cutting fossil-fuel subsidies will lead to less use of fossil fuels [the reduced subsidy to sellers shifts the supply curve to the left, leading to an increase in the equilibrium price and a reduction in the quantity demanded]. And this reduction in the consumption of fossil fuels will lead to reduced CO2 emissions and (assuming there is a relationship) reduced global warming.