17 Nov '11, 9am

OECD Urges Removing Fossil Fuel Subsidies to Boost Growth & Revenues, Reduce Greenhouse Gas Emissions

OECD Urges Removing Fossil Fuel Subsidies to Boost Growth & Revenues, Reduce Greenhouse Gas Emissions

Some $500 billion of government and taxpayer funding went to subsidize fossil fuel production and consumption in 2010, according to the two supranational organizations. That’s despite G-20 leaders pledging in 2009 to phase-out energy subsidies that encourage wasteful consumption, reduce our energy security and undermine efforts to deal with the threat of climate change,” according to an OECD press release . Reform efforts have been hindered by a lack of information on the amount and nature of fossil fuel energy subsidies, particularly in developed countries that make up almost all of the OECD’s 34-nation membership, the organizations noted.

Full article: http://cleantechnica.com/2011/11/17/oecd-urges-removing-f...

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