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.The reasons for promoting the use of renewables are easily understood. Renewable energy sources (bioenergy, hydropower,