G20 - End Fossil Fuel Subsidies?
The G20 meetings are actually discussing fossil fuel subsidies. Canada, under conservative leadership, is of course a stick in the mud on this issue [as with so many progressive issues].
In light of global warming, it seems insane that governments are subsidising the fossil fuel industry... to say nothing of the fact that the fossil fuel industry is profitable on it's own, and one of the wealthiest industries in the world.
Subsidies, it has been suggested, should be going to renewable energy where invested dollars return a bigger profit over time. Also, renewable energy employs many more workers "per unit of energy produced" as compared to the fossil fuel industry, and we do need more jobs in Canada.
At some point in time we will have to move away from oil and gas and coal, so why not hurry that change along before we have ruined the whole world, from oceans to land to atmosphere, with fossil fuel pollution??
What do you think? Is it time Canada stopped spending taxpayer dollars on subsidies for fossil fuels?
Or are we being fossil fools?
Link to article> http://www.bchydro.com/news/articles/conservation/ottawa_eyes_g20_promis...
Quotes:
"By getting rid of tax incentives, the federal Tories would be backing up their own preference for tax neutrality in business"
"Estimates show that Canadian governments lose roughly $2 billion a year in revenue because of tax incentives for the fossil fuels industry"
[there is] "no indication from the Canadian government that they have singled this out as a priority"
[there are] Frequent international accusations that the Canadian government is a laggard on climate change
Did'ja hear about the IEA report? They say global subsidies for fossil fools totals $557 Billion!! Boy, I bet that would build a lot of wind turbines...
Quotes:
The IEA estimates that in 2008 - the latest year for which data are available - 37 large developing countries spent about $557bn in energy subsidies, according to a draft seen by the Financial Times. Previous estimates put it at about $300bn. Iran, Russia, Saudi Arabia, India and China top the ranking, according to the report.
Some of the biggest spenders, including Saudi Arabia and China, recently warned of the need to cut subsidies over the medium term.
Fatih Birol, chief economist at the IEA in Paris, said removing subsidies was a policy that could change the energy game "quickly and substantially".
"I see fossil fuel subsidies as the appendicitis of the global energy system which needs to be removed for a healthy, sustainable development future," he told the Financial Times.
"Phasing out oil, natural gas and coal subsidies would increase energy efficiency and push investments in clean energy sources," he added.
The new report will be discussed at the G20 summit in Toronto this month.
Link> http://www.ft.com/cms/s/0/27c0ff92-7192-11df-8eec-00144feabdc0.html?ftca...