A recent study projects that global fossil fuel subsidies totaled a staggering $5.2 trillion worldwide in 2017, and shows efficient pricing would have cut more than a quarter of global carbon emissions in 2015.
A recent Gallup poll shows most Americans support proposals that aim to “dramatically” reduce the use of fossil fuels. Solar and wind power also earned a strong show of support in the poll.
Exposure to air pollution is now a bigger killer worldwide than smoking, according to a new study.
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Today on EGEB, a new ICO aims to deploy crypto-currency to bring solar power to Third World countries. The U.S. Department of Energy is considering nationalizing failing dirty utility providers and energy producers for the sake of “national security”. Indian coal industry is in serious trouble as it’s being outclassed by its solar competitors.
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The biofuel and oil industries, which were both heavily subsidized over the years, are now working together to lobby against electric vehicle incentives under the pretext that they are seeking “a level playing field”.
Their respective main lobbying groups made the announcement this week.
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In its latest ‘World Energy outlook’ report, the International Energy Agency (IEA) found that fossil-fuel subsidies dropped sharply by 35% last year – from almost $500 billion in 2014 to $325 billion in 2015. It’s a significant improvement, but the industry remains largely over-subsidized relative to the renewable energy industry, which receives about half the monetary value in subsidies – $150 billion.
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The Divestment movement, which aims at convincing people to remove their money from fossil fuel investments, has been picking up steam over the past year. A new report that came out this week claims that it has reached a commitment of over $5.2 trillion in assets from 688 institutions and 58,399 individuals across 76 countries over the last 5 years.
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