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Posted on 2nd May 2014
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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?