A new report by Oil Change International identifies billions of dollars in subsidies for fossil fuel exploration from the world’s wealthiest countries.
$1 TRILLION in Global Fossil Fuel Subsidies & the Urgent Need for Transparency
In this graphic, you can see that according to Oil Change International analysis, governments around the world are spending perhaps more than $1 trillion USD combined per year subsidizing the fossil fuel industry.
Fossil Fuel Subsidy Reform Gaining Momentum Internationally
23 May 2012 Ahead of upcoming meetings in June of the G20 in Mexico and the United Nations Rio + 20 Summit, the pace of activity around worldwide efforts to phase out subsidy reform is quickening. Last weekend, the G8 leaders reaffirmed their commitment to phase out fossil fuel subsidies in their statement coming out … Read More
G20: “There’s just no action behind the words”
As G20 leaders prepare to meet later this week in South Korea, they face a daunting in-tray. But amongst the issues they need to address are fossil fuel subsidies. In part they have created a rod for their own back. It was a just over a year ago in September 2009 at the G20 meeting … Read More
Report: G20 Fossil Fuel Subsidy Phase Out
G20 Fossil-Fuel Subsidy Phase Out: A review of current gaps and needed changes to achieve success Oil Change International & Earth Track November 2010 Download the full report, G20 Fossil-Fuel Subsidy Phase Out (PDF) The Economist: “Green view: How to save $300 billion,” November 12, 2010. Financial Times: Alan Beattie, “G20 countries accused of fossil … Read More
FT: Ending subsidies is “An idea whose time has come”
I don’t know how many G20 leaders will have time to read the FT website today, but they should. The paper’s editorial is nothing short of staggering. It starts by stating “As addictions go, the world’s addiction to fossil fuels is a killer.” Coming from the mouthpiece of one of the world’s financial capitals, which … Read More
Ending Subsidies or Shifting Blame?
So the political road-show moves from the UN up to the G20 at Pittsburgh, where climate and the banking crisis will be on the table. And so will a discussion about ending fossil fuel subsidies. For years campaigners have been arguing for the ending of the tax breaks and other incentives given to the fossil … Read More
Money for Nothing, and your Climate for Free
According to a leaked letter, the Obama Administration is set to propose ending fossil fuel subsidies next week at the Pittsburgh G20. The letter, authored by Michael Froman who is an Obama advisor on international economic affairs, calls on the G20 to eliminate all fossil fuel and electricity subsidies, as a “logical step in combating … Read More
G20 a “Wasted Opportunity”
World leaders were quick to call the G20 Summit a success yesterday. Barack Obama hailed the summit “a historic turning point” in the pursuit of world economic recovery. Gordon Brown celebrated the “success”, saying it had announced the creation of a “new world order”. But do you ever get a sense of dreadful déjà vu?
Bonn, not London, is the Important Meeting
As the world watches and waits to see what happens at the G20 today, but if you are worried about climate, you are looking at the wrong place. You should be looking to see what happens at Bonn instead. Anything meaningful on climate will happen in Bonn not London. This is where a 10-day UN … Read More