Bad news, very bad news, for the survival of planet earth. On the one hand, politicians attempt to gain votes by claiming a kind to and iron-and-steel, unwavering commitment commitment to save humankind, reduce destructive greenhouse gas emissions and produce “green energy”. On the other, governments spend 1.4 billion dollars… per day… to destabilize climate.
“We distort reality when we omit the health and environmental costs associated with burning fossil fuels from their prices,” says Lester R. Brown, president of the Earth Policy Institute (EPI).
When governments actually subsidize their use, they take the distortion even further, the founder and former president of the Worldwatch Institute, wrote in a data highlight, adapted from his book “World on the Edge”.
Worldwide, he says, direct fossil fuel subsidies added up to roughly $500 billion in 2010. Of this, supports on the production side totaled some $100 billion. Supports for consumption exceeded $400 billion, with $193 billion for oil, $91 billion for natural gas, $3 billion for coal, and $122 billion spent subsidizing the use of fossil fuel-generated electricity.