“Wealthy nations spend 40 times as much money subsidizing fossil fuel production as they contribute to the Green Climate Fund”

The next time you hear or read some wag, random solar-hater, or shill for a dirty fossil fuel company (like “natural gas”, really, explosive methane), or the likes of Spectra Energy bemoan the subsidies states like Massachusetts and New York are giving to zero Carbon energy, like residential solar, commercial solar, wind, and energy storage, remember this little fact. Massachusetts exports billions of dollars to fossil fuel companies in other states. There these companies pull down all kinds of benefits, like the Master Limited Partnership which is, by statute, not available to solar and wind energy sources.

TORONTO (Thomson Reuters Foundation) – Wealthy nations spend 40 times as much money subsidizing fossil fuel production as they contribute to the Green Climate Fund to help poor countries adapt to global warming, a research group said in a study released on Thursday.

Eight industrialized nations – Australia, Canada, France, Germany, Italy, Japan, the United Kingdom and the United States – spend a combined $80 billion a year on public support for fossil fuel production, but have pledged only about $2 billion a year to the Green Climate Fund, Oil Change International said.

“Eliminating fossil fuel subsidies could be a massive double win,” Alex Doukas, the group’s senior campaigner, said in a statement on the research analysis.

Read more at Reuters.
Oil Subsidies vs Renewables

(Reporting By Chris Arsenault, editing by Tim Pearce. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women’s rights, trafficking, corruption and climate change. Visit http://www.trust.org)

About ecoquant

See https://wordpress.com/view/667-per-cm.net/ Retired data scientist and statistician. Now working projects in quantitative ecology and, specifically, phenology of Bryophyta and technical methods for their study.
This entry was posted in Cape Wind, carbon dioxide, Carbon Worshipers, citizenship, clean disruption, climate change, climate disruption, conservation, consumption, corporate litigation on damage from fossil fuel emissions, corruption, decentralized electric power generation, decentralized energy, demand-side solutions, destructive economic development, disingenuity, efficiency, energy, energy utilities, environment, fear uncertainty and doubt, fossil fuel divestment, fossil fuels, global warming, greenhouse gases, greenwashing, investment in wind and solar energy, methane, microgrids, mitigation, pipelines, planning, politics, public utility commissions, rationality, Sankey diagram, solar energy, solar power, SolarPV.tv, sustainability, Tony Seba, wind energy, wind power, zero carbon. Bookmark the permalink.

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