Gallery: Fossil Fuels Receive 12X More Subsidies Than Renewables

 

It’s a familiar refrain: renewable energy won’t look as enticing after government subsidies are removed. While renewable energy does get government incentives, it turns out fossil fuels get more — way more. According to Bloomberg, the fossil fuel industry reaps roughly 12 times the subsidies that the renewable energy sector receives globally.

Bloomberg’s own analysis puts worldwide incentives for renewable energy sources last year at $43 – 46 billion. International Energy Agency data for 2008 counted the fossil fuel industry’s tally at a whopping $557 billion.

The analysis also noted that the U.S. was technically the biggest contributor to renewables, with $18.2 billion in incentives. China — which industry watchers say is outpacing the United States — checked in with just $2 billion. But Bloomberg called that number “deceptive,” because the economic tiger also provides the sector with low-interest loans totaling $24 billion.

Via Bloomberg

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2 Comments

  1. tony myers tony myers April 24, 2013 at 3:44 pm

    Where are you getting your information on fossil fuel subsidies? Who is the recipiant of these subsidies?

  2. gbowdridge February 18, 2012 at 3:09 pm

    Hello, Interested in DC generation for Telco (Phone) industry (Powering phone lines). Also I live in Nova Scotia, our electric is mostly coal generated, our government is very interested in investment in alternate energies. Personally, I am not interested in direct financial gain from these projects. I hope to develop contact relationship between electric generation projects that are ready for plant / utility implementation and local utilities. There are more then 6 working groups successfully marketing green energy projects to our grid. Telco Industry pays a lot for DC power and also pays for DC generators for use when AC lines are down. DC current is very expensive for the Telco system. They will be interested in safe/sterile production of DC where it is compact, and cost efficient compared coal->coke->AC->12V DC (DMX). I would be very happy to negotiate a meal/meet-greet between interested Canadian utilities and appropriate generation project. I have little / no interest in financial gain and no investment in hand. I will profit by my involvement as a concerned citizen, and advancement in my industry, Telecommunication. I have some spare time and can motivate Canadian utilities to advance these technologies. There are working alternate energy funding pools and marketing groups developing fairly large pilot projects in my Area. Presumably access to these fund sources could be useful to the projects discussed here.

    please help me form some contacts, esp. small plant DC generation projects that are ready for implementation. Esp interested in DC that can be generated in semi-clean/clean equipment rooms, or transmitted from “nearby city safe building”.

    Thank you for any help you can provide. I do maintain real contact with groups that do have funding for a projects like this.

    Beer? Chicken wings? maybe I could arrange a dinner meeting?

    Gary Bowdridge
    gbowdridge@yahoo.ca

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