Subsidies to fossil fuels outrank subsidies to renewables 4 to 1

August 12, 2017

Huffington Post carries an article today by Carl Pope demonstrating how subsidies paid by governments to support the fossil fuel industry continue to vastly outrank subsidies paid to renewable energy industries. The article can be fund here: http://www.huffingtonpost.com/entry/subsidizing-the-fossil-fuel-end-game-beyond-incoherence_us_598deee4e4b0caa1687a5fd1

Pope draws heavily on the recent study from Oil Change International, the Sierra Club and Friends of the Earth, ‘Talk is cheap: How G20 governments are financing climate disaster’, where it is asserted that ‘G20 governments are providing nearly 4 times more public finance to fossil fuels than to clean energy.’ The sums involved are vast – more than $60 billion in subsidies paid direct to giant oil, gas and coal corporations. Japan, China and Korea are actually the largest subsidizers of fossil fuels – the darker side to their active promotion of green energy. See the report here: http://priceofoil.org/content/uploads/2017/07/talk_is_cheap_G20_report_July2017.pdf

The key chart is the first Fig ES-1, here: Annual Average of Public Finance for Fossil Fuels

 

 

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