I would argue that you can't really take issue with calling it a subsidy unless you're willing to take issue with the unpriced externalities.
If a government refuses to price them in it's effectively the same as directly subsidizing the present generations at expense of future ones.
I would argue that you can't really take issue with calling it a subsidy unless you're willing to take issue with the unpriced externalities.
If a government refuses to price them in it's effectively the same as directly subsidizing the present generations at expense of future ones.