Fossil fuels received more than $409 billion in aid in 2010

[txlibdem]

Fossil fuels received more than $409 billion in aid in 2010
Published : Tuesday, January 17th, 2012
By : Renewable Energy Magazine

http://www.eco-business.com/features/fossil-fuels-received-more-than-409-billion-in-aid-in-2010/
Anyone who believes that renewable energies are the most subsidised forms of energy is wrong. Global subsidisation of fossil fuel consumption amounted to $409 billion – €321.3 billion – in 2010, said the International Energy Agency’s Chief Economist today. Fatih Birol said that this aid is the biggest obstacle to the development of renewables.

The information was made public today during the second day of the World Future Energy Summit in Abu Dhabi (UAE).

Fatih Birol noted that, in addition to aid for fossil fuels (coal, oil and gas), one of the major obstacles to the transition to a cleaner energy system is the financial and economic crisis that has led some leading European countries to reduce subsidies for renewable technologies.

[Scuba]

1. The investors in London, Tokyo and Hong Kong must love the American taxpayer.

[txlibdem]

2. For paying the bill to keep the "oil lanes" open with our military? Yes, absolutely.

It's estimated that American Taxpayers pay $50 Billion each year in military expenses just to keep the oil trade going and keep a stable supply continuously flowing.

Then there are the additional $72 Billion in direct and indirect subsidies that we also pay each year. So, I don't doubt that the taxpayers of all other countries are secretly thanking us US taxpayers for making their fuel less expensive than it otherwise would be.

[Scuba]

3. +1