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Simon Leufstedt

Subsidies to the fossil fuel industry

Did you know that governments around the world are spending $1.4 billion per day to keep us hooked on climate wrecking fossil fuel-generated electricity? And how much do renewable energy sources get? Not much in comparison:

"In contrast to the $500 billion in fossil fuel supports in 2010, renewable energy received just $66 billion in subsidies — two thirds for electricity generation from wind, biomass, and other sources, and one third for biofuels. Not only do fossil fuel subsidies dwarf those for renewables today, but a long legacy of governments propping up oil, coal, and natural gas has resulted in a very uneven energy playing field."

Read more here: Governments Spend $1.4 Billion Per Day to Destabilize Climate

If we just could get rid of these unnecessary subsidies to the fossil fuel industry we would come a long way in creating a sustainable and renewable energy future.

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