26 Jul '12, 11pm

INCONVENIENT TRUTH: International Energy Agency has some stats on fossil fuel subsidies #cew2012 #Auspol

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. The IEA Chief Economist recalled that between 2000 and 2010 the increase in the use of coal as an energy source was almost equal to the sum of the increase in diesel, natural gas, nuclear and renewables. Moreover, the IEA’s World Energy Outlook shows that fuel subsidies are a very inefficient way of helping the poor: only 8% of the $409 billion spent on subsidising fossil fuels in 2010 reached 20% of the poorest people around the world. More gas and renewables The IEA’s forecast of e...

Full article: http://www.renewableenergymagazine.com/article/fossil-fue...

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