Trend Results : Fossil Fuel Subsidies


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Rich nations’ fossil fuel export funding way above green spend

Rich nations provided around five times as much in export subsidies for fossil-fuel technology as for renewable energy over a decade, according to the Organisation for Economic Co-operation and Development data seen by Reuters. ||| Barbara...Show More Summary

Rich nations' fossil fuel export funding dwarfs green spend: documents

BRUSSELS (Reuters) - Rich nations provided around five times as much in export subsidies for fossil-fuel technology as for renewable energy over a decade, according to OECD data seen by Reuters.

Ghana Increases Levy On Petroleum Products To Fund Solar Power Projects

Developing countries are taking small yet definitive steps to reduce subsidies and implement taxes on fossil fuels, with Ghana being the latest to have taken a decision in the same direction. The President of Ghana has announced that the levy on petroleum products will be increased to $0.02 per litre. Show More Summary

India Doubles Coal Tax, Yet Again

Of late, India has been cutting subsidies while at the same time increasing taxes on fossil fuels so as to transform itself from a carbon subsidy regime to one of carbon taxation. On Saturday, the country moved forward to double the “clean energy cess” it levies on coal used in the country. Show More Summary

Masdar Chairman: “Renewable Energy Has Graduated” & “Opportunity To Revisit Fossil Fuel Subsidies

Dr Sultan Ahmed Al Jaber, the Chairman of Masdar & UAE Minister of State, gave the opening remarks at the start of Abu Dhabi Sustainability Week and the World Future Energy Summit. Listening to them, it’s hard not to get the impression he could be labeled a climate hawk. Show More Summary

5 Reasons Why Low Oil Prices are Good for the Environment

Our binge on fossil fuels is partly driven by gigantic subsidies. Low oil prices allow these to be tackled without a material impact on consumer (read voter) pockets. This is a chance to throw out fossil fuel subsidies, and bring in a robust carbon price. read more

An Easy Step Forward Towards Cleaner Energy: Ending Subsidies For Fossil Fuels

As we attempt to move towards a clean energy economy, numerous roadblocks remain. One of the major obstacles standing in the way might not be as obvious as the others—federal subsidies. As we seek to accelerate the world’s transition to a clean energy economy, a rational approach to subsidies is critical. read more

Solar and wind power are now fully cost competitive with fossil fuels – is it time to switch over?

Renewable energy production has boomed across the globe in recent years, driven by improvements to solar and wind turbines, increased economies of scale, and in some cases, significant government subsidies. A new report from financial...Show More Summary

IEA: 'The Cost of Fossil Fuels to an Economy Is Not Reduced by Subsidies; It Is Just Redistributed'

Countries around the globe have committed to reducing subsidies for fossil fuels. But that commitment is not being put into practice quickly enough for cleaner energy solutions to gain a competitive edge in some regions, according to the 2014 World Energy Outlook from the International Energy Agency. read more

G20 Governments are Spending $88B Each Year to Explore for New Fossil Fuels. Imagine if Those Subsidies Went to Renewable Energy?

Rich G20 nations are spending about $88 billion ( USD ) each year to find new coal, oil and gas reserves even though most reserves can never be developed if the world is to avoid catastrophic climate change, according to a new report. Generous...Show More Summary

$548 Billion In Global Fossil Fuel Subsidies “Rig The Game” Against Renewables

Originally published on RenewEconomy. By Sophie Vorrath In the same week that a new study found that G20 nations, including Australia, were providing $US88 billion ($A102 billion) a year in subsidies just for fossil fuel exploration,...Show More Summary

Cheap Gas Is Costing The Planet

Fossil fuel subsidies continue to rise: In 2009, G20 leaders agreed to phase out fossil fuel subsidies by 2020. But it’s clear that most countries are going in the opposite direction, especially the U.S. The government provided $2.6 billion in subsidies for exploration in 2009, which nearly doubled to $5.1 billion by 2013, thanks to […]

Rich countries are still wasting billions on subsidies for fossil fuels

The G20 nations pledged to phase out fossil fuel subsidies. Instead they're now spending $88 billion a year just on exploration, not to mention all the other subsidies.

The Fossil Fuel Bailout: G20 Subsidies for Oil, Gas and Coal Exploration

Oil Change : "by providing subsidies for fossil-fuel exploration, the G20 countries are creating a ‘triple-lose’ scenario. They are directing large volumes of finance into high-carbon assets that cannot be exploited without catastrophic climate effects."

Institutional Investors Call For Price on Carbon, End to Fossil Fuel Subsidies

More than 345 global institutional investors, which represent more than $24 trillion in assets, are calling on governments to put a price on carbon and phase out fossil fuel subsidies. Governments should also develop an ambitious global...Show More Summary

347 Institutional Investors Call for ‘Meaningful’ Carbon Pricing

Managing over $24 trillion in assets, IIGCC, which counts BlackRock and Calpers among its membership -- is calling for definitive carbon pricing, more clean energy investment and elimination of fossil fuel subsidies.

Is This the Only Chance for Wind and Solar to Tackle Climate Change?

Investments in renewable energy could get a big boost if the world put the brakes on fossil fuel subsidies; but it's not a realistic option. Here's why.

IEA Executive Director Denounces Subsidy-Fueled 'Wasteful Consumption'

Maria van der Hoeven, Executive Director of the International Energy Agency (IEA) recently expressed her view that “ending ‘wasteful fossil fuel subsidies’, which may encourage overconsumption of oil and gas, particularly in the Middle East,” still constitutes a big challenge around the world. read more

TODAY’S STUDY: WHY THE OIL & GAS INDUSTRY BACKS AN ALL-OF-THE-ABOVE ENERGY POLICY

Cashing in on All of the Above: U.S. Fossil Fuel Production Subsidies under Obama July 2014 (Oil Change International) Executive Summary Each year, the U.S. federal and state governments give away more than $21 billion in subsidies to...Show More Summary

Thanks to the fracking boom, we’re wasting more money than ever on fossil fuel subsidies

Because oil and gas production has soared, so has the value of various tax breaks for the industry.

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