World subsidies for fossil fuels 5x larger than for renewables – University of Copenhagen

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16 November 2011

World subsidies for fossil fuels 5x larger than for renewables

Something is wrong in the world of energy subsidies. According to statistics gathered by the International Energy Agency (IEA) the worldwide subsidies to fossil fuel consumption in 2009 amounted to no less than 300 billion USD, while at the same time the global support for renewables was almost 60 billion USD. This means that global government spending on promoting fossil fuels was five times higher than on promoting carbon dioxide neutral renewable energy sources.

Read the full story on Elmia.se