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Fossil Fuel Subsidies Dwarf Support For Renewables
TravisTR sends word of research from Bloomberg New Energy Finance which found that direct subsidies for renewable energy from governments worldwide totaled $43-46 billion in 2009, an amount vastly outstripped by the $557 billion in fossil fuel subsidies during 2008.
"The BNEF preliminary analysis suggests the US is the top country, as measured in dollars deployed, in providing direct subsidies for clean energy with an estimated $18.2bn spent in total in 2009. Approximately 40% of this went toward supporting the US biofuels sector with the rest going towards renewables. The federal stimulus program played a key role; its Treasury Department grant program alone provided $3.8bn in support for clean energy projects. China, the world leader in new wind installations in 2009 with 14GW, provided approximately $2bn in direct subsidies, according to the preliminary analysis. This figure is deceptive, however, as much crucial support for clean energy in the country comes in form of low-interest loans from state-owned banks. State-run power generators and grid companies have also been strongly encouraged by the government to tap their balance sheets in support of renewables."
You know what REALLY pisses me off? I, as an individual, get close to ZERO subsidies! Where's my $40 billion? I demand equal treatment!
Without subsidies your electricity bill would be larger.
Right, because no one ever went from being poor to being wealthy. Ever.
What you really want, even if you don't realize it, is a return to serfdom. A few ultra wealthy insiders get to trade carbon credits and redirect the wealth of all nations into their own pockets and everyone else is impoverished and living in shit and filth when the sanitation systems stop working and you have used up all the world's capital on your stupid schemes. Ah to breath the "clean", shit-smelling air and drink water from a cholera infested well! At least the rich will still be living it up, since thier life expectancy will only drop by30 years as opposed to everyone else's who drops 40-50 years.
Last I heard, fossil fuels were heavily taxed. Governments are addicted to the revenue stream they produce. So powerful is this addiction, the concept of global warming was established to accelerate the money grab to astronomical proportions.
I am not saying there is no such thing as fossil fuel subsidy, but the article never mentioned any specifics. Any such calculations need to deduct fuel taxes, since taxation is the opposite of a subsidy.