Phasing out fossil fuel subsidies 'could provide half of global carbon target'

[guardian]

3. I agree with phasing out fossil fuel subsidies

But I don't think it will have a noticeable impact. The article in the OP says there were $409 billion in fossil fuel subsides. According to http://www.ibisworld.com/industry/global/global-oil-gas-exploration-production.html, the global Oil and Gas industry is expected to generate revenue of $3.2 trillion in 2011.

$409 billion is only 0.012% or 0.00012 of $3.2 trillion. I don't see how removing subsides equaling one hundredth of one percent of industry revenues would change anything the oil and gas companies or consumers are doing currently. On the face of it, the claim that removing subsidies will take the world half way limiting global warming to 2C seems about as nonsensical as most of the other projections/models touted by doomers. This article doesn't pass the laugh test.