Fossil Fuel Subsidies Reach $544B Worldwide

[Bill USA]

http://domesticfuel.com/2013/12/09/fossil-fuel-subsidies-reach-544b/


According to the World Energy Outlook fossil fuel consumption subsidies have reached $544 billion in 2012, up from $523 billion in 2011. This news has caused the Global Renewable Fuels Alliance (GRFA) to criticize leaders of the most developed nations for failing to reduce fossil fuel subsidies despite their commitment to eliminate them four years ago.

This weekend marked the end of this year’s United Climate Change Conference and Bliss Baker, GRFA spokesperson said “Another year has passed without any progress being made in eliminating these wasteful crude oil subsidies. These market distorting subsidies hurt developing economies and slow the development of alternative fuels, like biofuels.”

Screen Shot 2013-12-09 at 11.22.41 AMIn 2009, at the Pittsburgh G20 Summit, the world’s most developed countries committed to eliminating unnecessary fossil fuel subsidies. Back in 2009, fossil fuel subsidies had reached $300 billion, 45 percent less than where they are today.

This year’s figure of $544 billion in fossil fuel consumption subsidies shows that efforts to reduce them are not working says Baker. Even more egregious is the fact that this number does not include the production subsidies governments provide directly to crude oil companies, which is widely accepted to be in excess of $100 billion he adds.
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[SkatmanRoth]

1. Venezuela must really be hurting their developing economy

Consumer gasoline sells for twenty five cents a gallon there.

http://en-maktoob.news.yahoo.com/venezuela-floats-chance-gasoline-price-hike-013941379.html

[poopfuel]

2. From Time magazine, 2011 $8 trillion to protect Gulf

But why would we count that in our gas prices?

http://nation.time.com/2011/04/24/a-question-for-the-obama-administration/