So many vested interests, and such financial and economic clout from the energy status quo. If you received $493 Billion a year that is cash cow you'd fight hard to keep. We have to keep up the pressure on our governments, and media outlets to bang this drum until the victory is won. Just think what we could do with renewables and energy storage with a level playing field on costs.
I'm an eternal optimist, but breaking this fossil fuel subsidy travesty is going to take some doing. Let's all keep lobbying our MP's, legislators and governments. Our very survival could depend on it.
The International Energy Agency estimates that countries spent $US493 billion on consumption subsidies for fossil fuels in 2014, while the UK’s Overseas Development Institute suggests G20 countries alone devoted an additional $US450 billion to producer supports that year. Throw in the unpaid environmental and climate impacts, and the International Monetary Fund puts total annual subsidies for fossil fuels at more than $5 trillion.