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Fossil Fuel Subsidies Dwarf Support for Renewables
Submitted by admin on Sat, 2010-07-31 08:50.
From an article in Tchnology Review: Fossil fuels are the backbone of economies worldwide, so governments spend a lot to support them. A new report from Bloomberg New Energy Finance says altogether governments spent between $43 anf $46 billion on renewable energy and biofuels last year, not including indirect support, such as subsidies to corn farmers that help ethanol production. Direct subsidies of fossil fuels came to $557 billion, the report says. |
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