Oil Change International released a briefing paper today at COP19 in Warsaw revealing that subsidies lavished on the fossil fuel industry by wealthy industrialized nations add up to more than five times the amount of climate financeShow More Summary
Think renewables get propped up by government? You should try fossil fuels on for size.
The Atlantic has a look at the massive subsidies doled out to fossil fuel companies and consumers while renewables are starved of funds (Japan being the main exception) - The Fossil Fuel Welfare State. When we talk about the Great Energy Shift to a shiny green future, keep in mind that there’s plenty of green bankrolling the dirty power past. Show More Summary
Originally published on ClimateProgress Producers of oil, gas and coal received more than $500 billion in government subsidies around the world in 2011, with the richest nations collectively spending more than $70 billion every year to support fossil fuels. Show More Summary
“If their aim is to avoid dangerous climate change, governments are shooting themselves in both feet,” a report by the Overseas Development Institute said. The post Fossil Fuels Receive $500 Billion A Year In Government Subsidies Worldwide appeared first on ThinkProgress.
Reporting from the Global Green Growth Forum in Copenhagen, Christine describes this “enormous policy misalignment”.
The impetus behind most environmental regulation these days, the justification for sweeping regulations and huge subsidies that aim to shut down the use of fossil fuels (see: the EPA’s new coal regulations) and replace them with (expensive and unreliable) “green” energies, is “climate change.” Or the idea that human activity is impacting global climate patterns...
By Kieran Cooke, Climate News Network The fossil fuel industry and its subsidies are targeted as world finance fires warning shots suggesting that sustainable energy and tackling climate change must be key priorities.
An overlooked decision made in St Petersburg by G20 leaders agreed to phase out “inefficient” fossil fuel subsidies, which would cut $500 billion in annual expenditures while reducing greenhouse gas emissions (compared to projections) 10% by 2050.
Earlier this month, G20 leaders meeting in St Petersburg, Russia decided to phase out the use of HFCs. This got a lot of attention (at least among green media), and rightfully so. However, another big decision made in St Petersburg seems to have bypassed most radars. Show More Summary
A recurring theme on opening day was an emphasis on true costs and the elimination of fossil fuel subsidies
Disagreements over the Syrian chemical weapons crisis didn't stop leaders from reaching a consensus to phase down production and consumption of refrigerant greenhouse gases and phase out inefficient fossil fuel subsidies at the G-20 Summit in Russia. Show More Summary
Solar and wind power could be cost-competitive — without federal subsidies — with conventional power sources if new renewable energy development is focused around highly productive locations, according to a new study from the National Renewable Energy Laboratory (NREL). Show More Summary
From a tactical standpoint, you have to give the fossil fuel lobby credit for driving message discipline to a serious advantage: not one dirty energy subsidy has been cut or removed to date. Not one.
In contrast to a bitterly divided Congress, there is also broad public support for eliminating fossil fuel subsidies, taxing carbon and greenhouse gas emissions, and lowering emissions regardless of what other countries may or may not...Show More Summary
When G20 leaders met in Pittsburgh in 2009, they committed to 'rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption'. Subsequent meetings have repeated this commitment. It's a big issue. Show More Summary
Fossil fuel subsidies dwarf green investment – report Developing nations are spending $396 bn on fossil fuel subsidies a year while receiving $5 bn in support to tackle climate change, according to a new study by the Overseas Development...Show More Summary
The International Monetary Fund (IMF) has a new report out claiming that fossil fuel is "mispriced" and that eliminating subsidies to the fossil fuel industry and adding carbon taxes could cut greenhouse gases by 13 percent. "EnergyShow More Summary
IMF: Want to fight climate change? Get rid of $1.9 trillion in energy subsidies. Brad Plumer, March 27, 2013 (Washington Post) “…[T]he simplest way to tackle global warming…[is making] sure that fossil fuels are priced properly and not...Show More Summary
A new IMF study finds that global fossil fuel subsidies amount to $1.9 trillion a year. But the real truth could be more eye-popping yet.