Stories
Slash Boxes
Comments

SoylentNews is people

posted by martyb on Wednesday June 10 2020, @07:18AM   Printer-friendly
from the how-many-electric-cars-would-that-buy? dept.

Arthur T Knackerbracket has found the following story:

Climate crisis notwithstanding, governments subsidised fossil fuels in 2019 to the tune of nearly half-a-trillion dollars, two intergovernmental agencies have jointly reported.

Subsidies for fossil fuel consumption alone declined $120 billion, or 27 percent, compared to 2018 due mainly to lower oil and gas prices, according to International Energy Agency (IEA) figures.

Governments that heavily support the use of oil and gas include Iran, Saudi Arabia, China, Russia, Indonesia, Egypt, India and Venezuela.

At the same time, subsidies for fossil fuel production—in the form of cash, tax breaks and other credits—increased across 44 rich and emerging economies in 2019 by 38 percent to $55 billion, the Organisation for Economic Co-operation and Development (OECD) reported.

Combined subsidies for both consumption and production last year totalled $478 billion in 77 economies, an 18 percent drop compared to the year before, the IEA and OECD said in a joint statement, released at the end of last week.

"The fiscal burden of subsidies means that fewer resources can be potentially devoted to other public funding, be it for clean-energy research, innovation or to strengthen social safety nets," Nathalie Girouard, head of the OECD's environmental performance and information division, told AFP.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 0) by Anonymous Coward on Wednesday June 10 2020, @02:27PM (4 children)

    by Anonymous Coward on Wednesday June 10 2020, @02:27PM (#1005803)

    Maybe in 2024, start working now to make that happen.

  • (Score: 1) by khallow on Wednesday June 10 2020, @07:54PM (3 children)

    by khallow (3766) Subscriber Badge on Wednesday June 10 2020, @07:54PM (#1005958) Journal

    Maybe in 2024, start working now to make that happen.

    I think 2020 has a good chance of drawing blood. Trump versus Biden has to be the weakest contest in a few generations.

    • (Score: 1, Interesting) by Anonymous Coward on Wednesday June 10 2020, @08:13PM (2 children)

      by Anonymous Coward on Wednesday June 10 2020, @08:13PM (#1005964)

      2024. This round, either Trump or Biden gets elected. If it is Trump, there is no way Republicans allow anyone like him to be nominated again. This leave his most ardent followers with nowhere to go and a good chunk of the Dems ousted out by their nominee again. If it is Biden, Republicans go deep and Dems decide to go third party given that the major parties ran two Reps. Either way, people on both sides were marching in the streets already this year, just give it for more years of status quo to erupt again.

      • (Score: 1) by khallow on Wednesday June 10 2020, @08:23PM

        by khallow (3766) Subscriber Badge on Wednesday June 10 2020, @08:23PM (#1005969) Journal

        This round, either Trump or Biden gets elected.

        Unless, of course, that doesn't happen.

      • (Score: 2) by Phoenix666 on Thursday June 11 2020, @02:11PM

        by Phoenix666 (552) on Thursday June 11 2020, @02:11PM (#1006288) Journal

        Either way, people on both sides were marching in the streets already this year, just give it for more years of status quo to erupt again.

        The US is already looking like the end days of the Weimar Republic. There has been a critical loss of authority by institutions. Public faith in leaders across all sectors has crashed. We are at the revolution phase that ex-KGB officer Yuri Bezmenov described [youtube.com] in his lecture in the 1970's on ideological subversion.

        --
        Washington DC delenda est.