The United Nations goes after fossil fuels in a new report.
Fossil-fuel consumers worldwide received about six times more state subsidies last year than were given to the renewable-energy industry, according to the chief adviser to oil-importing nations.
Aid to cut the price of gasoline, gas and coal rose by more than a third to $409 billion as global energy prices increased, compared with $66 billion of support for biofuels, wind power and solar energy, the Paris-based International Energy Agency said today in its World Energy Outlook.
What Bloomberg neglects to mention is that fossil fuels also supply 40-50 times more of the world’s energy.
We’re not for subsidies. That said, the renewable industry’s whining about fossil fuel subsidies is a red herring.
Were no energy subsidies provided, energy economics are such that we would still be using fossil fuels and renewables would still be a pipedream.