Fossil fuel subsidies are 10 times those of renewables, figures show

September 24, 2010 • Daily Email Recap

The Guardian: Despite repeated pledges to phase out fossil fuel subsidies and criticism from some quarters that government support for renewable energy technologies is too generous, global subsidies provided to renewable energy and biofuels are dwarfed by those enjoyed by the fossil fuel industry.

That is the conclusion of a major report released late last week by analyst Bloomberg New Energy Finance, which analyses subsidies and incentive schemes offered globally to developers of renewable energy and biofuel technologies and projects.

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