$312 Billion: Governments Gave Six Times More to Fossil Fuels Than Renewable Energy in 2009, IEA Rep

[Nathanael]

According to the International Energy Agency (IEA) global subsidies for fossil fuel production were almost six times that of renewable energy subsidies 2009.

In its annual World Energy Outlook report , released today, the IEA says the fossil fuel industry received US$312 billion compared to US$57 billion for renewables. The majority of the subsidized funding for fossil fuels came from developing countries. The World Energy Outlook-2010 sees oil as the leading fuel in the energy mix until 2035.

Link: http://www.energyboom.com/yes/312-billion-governments-gave-six-times-funding-fossil-fuels-than-renewable-energy-2009-iea-report

[OnlinePoker]

1. Semantics, but it doesn't say the fossil fuel industry received...

If you read the report, it says: "Fossil fuel consumption subsidies worldwide amounted to $312 Billion in 2009, the vast majority in non-OECD countries." The primary non-OECD countries are Brazil, Bulgaria, China, India, Romania, Russia, South Africa and Ukraine. Consumption subsidies could be given to industrial and agricultural concerns to make them more competitive in the world markets. The subsidies also dropped from $558 Billion in 2008 to $312 Billion in 2009, I believe as a result of the global economic downturn.