According to the International Energy Agency, fossil
fuel subsidies from the government are 12 times greater than renewable energy.
Not exact matches
Unfortunately, however,
government resources are actually flowing the other way: according to a report
from the U.S. - based National Resources Defense Council, since 2009, global
subsidies for fossil
fuels have almost tripled to an estimated US$ 775 billion this year.
Over the past couple of years, Emirates» expansion into the US market has been met with pushback
from a coalition lead by American, Delta, and United Airlines (the US3) that claim Emirates» growth has been
fueled billions of dollars in
government subsidies.
Now 50 % of the country takes some kind of help
from the
government, whether it's
fuel oil assistance, food stamps, or some
subsidy.
Justice Agbim noted that «the
fuel subsidy fraud involved corruption and fraud on a very massive scale»; that it involved many oil companies and officials of
government's regulatory agencies «looting and stealing of trillions of naira from the Federal Government of Nigeria and threatening the security and economy of Niger
government's regulatory agencies «looting and stealing of trillions of naira
from the Federal
Government of Nigeria and threatening the security and economy of Niger
Government of Nigeria and threatening the security and economy of Nigeria.»
While country - specific effects would be varied, IMF projects that eliminating post-tax
subsidies for the most - polluting energy
fuels, such as coal and gasoline, could raise
government revenue by $ 2.9 trillion, while also slashing premature deaths
from pollution - related diseases by more than 50 percent.
Suffice to say that when you factor in all of the
government subsidies and «externalities» (increased health costs
from respiratory sickness, environmental degradation, etc; the stuff that we all have to pay for maybe not
from our wallets but in our tax returns), the true price of fossil
fuels is much, much higher than any individual or company pays.
There was some bad news for Drax recently as the UK
government decided that biomass
subsidies would not keep climbing as the «carbon price floor» — levied on fossil
fuel production (and due to rise further)-- on electricity consumption has caused a backlash
from manufacturers, consumer groups and energy suppliers who are concerned that the «tax will push up prices, make the UK uncompetitive and force the premature closure of coal - fired power plants, increasing the risk of blackouts.»
[3] The Indonesian
government is planning to boost domestic use of biofuel including
from palm oil, with extra
subsidies and a mandatory target of 15 % biofuel blended into diesel
fuel.
Iran leads the world in fossil
fuel consumption
subsidies providing $ 78 billion
from its
government resources in 2014 to lower the cost of fossil
fuels to end - users in its country.
The
government has been clear about its intention to invest 60 percent of the $ 18 billion that it will reap annually
from fossil -
fuel subsidy reform into much - needed infrastructure programs.
After the
government ended the
fuel subsidies, prices for gasoline and other goods more than doubled, with gasoline jumping
from $ 1.70 per gallon to $ 3.50 per gallon.
With lower EREI, some types of fossil
fuels may be already draining resources
from other parts of society through
government's
subsidies.
For every # 1 a business spends on
fuel, it gets # 1.60 in
subsidies from the
government.
The developments are likely to
fuel concerns among the many environmental campaigners who oppose nuclear power that the industry has unfair access to the
government, as well as benefiting
from hidden
subsidies.
Savings made by
governments from removing
subsidies to fossil
fuels can be redirected or swapped to help fund a clean and just energy transition.»
Decreasing or eliminating
government subsidies to fossil
fuels, which total $ 300 billion annually worldwide, can move the energy economy away
from heavy reliance on carbon - intensive fossil
fuels.
But climate campaigners are calling for a ban on all NEW fossil
fuel extraction projects, and it is the new projects that receive the heaviest
subsidies from state
governments.
Last year, Simi Valley Landfill entered what is becoming a fast - growing business of transforming fetid odors
from decaying trash into
fuel, a feat made possible by the miracles of modern chemistry and
government subsidies.
To go to scale,
government is going to have to lead: loan guarantees for poor people, taking
subsidies away
from fossil
fuels, making sure that when homeowners feed lowcarbon energy into the grid they get a good price
from utilities.
Faced with dwindling profits
from oil exports and a fiscal deficit, the
government was forced to slash
fuel subsidies in May 2008 — which at the time consumed 15 % of GDP.
Government subsidies to fossil
fuels reached $ 523 billion in 2011, up almost 27 %
from 2010, according to the latest data available
from the International Energy Agency (IEA).
They include everything
from direct
subsidies to tax loopholes and
government spending on infrastructure on which fossil
fuel industries depend.
Fossil -
fuelled electricity generation is profitable today thanks to past
subsidies from government.