OIL AND RENEWABLES SLICING THE SUBSIDY PIE

摘要

Even though governments throughout the world are vowing to expand green energy, they continue to give far more subsidies to fossil fuels than renewable - 10 to 12 times more, according to recent reports. Bloomberg New Energy Finance identified US$43-$46 billion last year allotted by governments for renewable energy. Meanwhile, oil, coal and gas received $557 billion in subsidies from the 37 countries that represent 95% of global subsidisation of fossil fuels in 2008, says the International Energy Agency (IEA). In its latest World Energy Outlook the IEA says that government support for both electricity from renewables and biofuels was $57 billion in 2009, of which $37 billion was allocated to the former.