This blog posting represents the views of the author, David Fosberry. Those opinions may change over time. They do not constitute an expert legal or financial opinion.

If you have comments on this blog posting, please email me .

The Opinion Blog is organised by threads, so each post is identified by a thread number ("Major" index) and a post number ("Minor" index). If you want to view the index of blogs, click here to download it as an Excel spreadsheet.

Click here to see the whole Opinion Blog.

To view, save, share or refer to a particular blog post, use the link in that post (below/right, where it says "Show only this post").

Global Warming News

Posted on 2nd May 2014

Show only this post
Show all posts in this thread.

Fossil Fuel Subsidies

This story is very worrying.

World governments are supposed to be trying to reduce the "carbon footprint" of energy production and other industrial activity, to combat global warming. We are awash with reports and recommendations from the UN and IPCC, telling us clearly and firmly that there is a global crisis, and that we need to change our ways and reduce our use of fossil fuels.

Now we have this data from the IEA (International Energy Agency) showing that (in 2012) the global subsidies for fossil fuel production and utilisation far exceeded those for renewable energy. The incentives to the energy industry seem to be pushing them in the wrong direction, so no wonder things are not changing much.

The article makes this telling point: "Fossil fuels may account for 80% of our total energy consumption, but they hardly represent a nascent industry in need of a helping hand."

Those subsidies are being paid from our taxes, and I, for one, would like to have a habitable planet on which to enjoy my retirement. How about you?