{"id":14329,"date":"2015-11-12T07:44:42","date_gmt":"2015-11-12T12:44:42","guid":{"rendered":"http:\/\/olduvai.ca\/?p=14329"},"modified":"2015-11-12T07:44:42","modified_gmt":"2015-11-12T12:44:42","slug":"g20-countries-spend-450b-a-year-on-fossil-fuel-subsidies-study-says","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=14329","title":{"rendered":"G20 countries spend $450B a year on fossil fuel subsidies, study says"},"content":{"rendered":"
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G20 countries spend $450B a year on fossil fuel subsidies, study says<\/a><\/h3>\n<\/div>\n

Countries promised in 2009 to phase out ‘inefficient’ fossil fuel subsidies \u2014 but progress has been slow<\/strong><\/p>\n

\"The<\/p>\n<\/div>\n<\/div>\n

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The processing facility at the Suncor oilsands operations near Fort McMurray, Alta. A new report from Oil Change International finds that G20 countries are spending $452 billion US a year subsidizing their fossil fuel industries. (Todd Korol\/Reuters)<\/p>\n<\/div>\n<\/div>\n

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G20 countries are spending $452 billion US\u00a0a year subsidizing their fossil fuel industries and\u00a0are undermining the world’s effort to combat climate change in the process, according to a new international report by an environmental advocacy group.<\/p>\n

“It’s quite a shocking amount. I think we were surprised the scale of the subsidies is so great,” said study co-author Alex\u00a0Doukas, who is senior campaigner with Oil Change International.<\/p>\n

“We’re subsidizing companies to search for new fossil fuel reserves at time when we know that three-quarters of the proven reserves have to stay in the ground if we hope to avoid the worst impacts\u00a0of climate change,” said\u00a0Doukas\u00a0in an interview from Washington.<\/p>\n

“So paying companies to find more fossil fuels is folly.”<\/p>\n

It’s the first time annual subsidies from all G20 countries have been added up and individually analyzed.<\/p>\n

It shows that Canada’s total federal and provincial support for the petroleum industry was close to $2.7 billion US ($3.6 billion Cdn at current exchange rates)\u00a0in the 2013-14 fiscal year, with federal subsidies accounting for roughly\u00a0$1.6 billion US\u00a0of that.<\/p>\n

The report\u00a0says at least another $2.5 billion US\u00a0of taxpayers’ money also goes to petroleum companies working in other countries through Export Development Canada “and may be significantly higher.”<\/p>\n

Canada both a ‘leader and a laggard’<\/strong><\/p>\n

Despite that, the report calls Canada one of the leaders in efforts to end subsidies for fossil fuels \u2014\u00a0sort of.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

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G20 countries spend $450B a year on fossil fuel subsidies, study says Countries promised in 2009 to phase out ‘inefficient’ fossil fuel subsidies \u2014 but progress has been slow The processing facility at the Suncor oilsands operations near Fort McMurray, Alta. A new report from Oil Change International finds that G20 countries are spending $452 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[103,3544,3000,10578,588,1729,10579,1052],"class_list":["post-14329","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-canada","tag-cbc","tag-cbc-news","tag-export-development-canada","tag-oil","tag-oil-and-gas-industry","tag-petroleum-industry","tag-subsidies"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14329"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14329\/revisions"}],"predecessor-version":[{"id":14330,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14329\/revisions\/14330"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}