Fossil Fuels Receive $500 Billion A Year In Government Subsidies Worldwide

[ScienceRocks]

Fossil Fuels Receive $500 Billion A Year In Government Subsidies Worldwide

Producers of oil, gas and coal received more than $500 billion in government subsidies around the world in 2011, with the richest nations collectively spending more than $70 billion every year to support fossil fuels.

Those are the findings of a recent report by the Overseas Development Institute, a think tank based in the United Kingdom.

“If their aim is to avoid dangerous climate change, governments are shooting themselves in both feet,” the report, headed by ODI research fellow Shelagh Whitley, said. “They are subsidizing the very activities that are pushing the world towards dangerous climate change, and creating barriers to investment in low-carbon development and subsidy incentives that encourage investment in carbon-intensive energy.”

While the report acknowledges there is currently no globally agreed definition of what constitutes a subsidy, it cites the World Trade Organization’s approach: “a subsidy is any financial contribution by a government, or agent of a government, that confers a benefit on its recipient.”

Read more at Fossil Fuels Receive $500 Billion A Year In Government Subsidies Worldwide | CleanTechnica

 

[boedicca]

I bet you have no concept of the incredible economic and quality of life benefits that fossil fuels have provided...nor the massive amount of taxes that are tacked onto fossil fuel sources.

If you are going to spot such Cost Side gibberish, at least have a bit of intellectual awareness of the Benefit Side.

 

[RGR]

Fossil Fuels Receive $500 Billion A Year In Government Subsidies Worldwide

Producers of oil, gas and coal received more than $500 billion in government subsidies around the world in 2011, with the richest nations collectively spending more than $70 billion every year to support fossil fuels.

Please...and getting the fossil fuel industry off the ground was required to get EVERYTHING else done because renewables sure couldn't lift the modern world off by itself.

Face it...so fossil fuels received subsides to get the ball rolling...fine...now you are just listening to the whining of those who are ticked off that they don't have the technology to have done it, and are now left with competing for the scraps.

Fortunately for them, the hysteria being generated around climate change works in their favor, so give it another century and then the fossil fuel folks can complain about their subsidies. Turnabout is fair play I suppose.

 

[boedicca]

Reactionary Liberals call standard tax deductions "subsidies"...the same deductions for depreciating capital expenditures that are used in other industries.

 

[flacaltenn]

Every time someone makes these outrageous numbers up --- and forces me to go investigate, you will find crap JUST LIKE what the OP admits..

While the report acknowledges there is currently no globally agreed definition of what constitutes a subsidy, it cites the World Trade Organization’s approach: “a subsidy is any financial contribution by a government, or agent of a government, that confers a benefit on its recipient.”

Last one I had to debunk was a USA total that counted ALL Road and Hiway construction and maintenance in that total. ((As tho non-ICEngine vehicles are gonna hover and not require roads))

As well as every STANDARD biz deduction that ANY company takes.

You'll never know what the real number is globally -- if we can't agree on what is included in the USA numbers..

 

[whitehall]

How does a fuel tax exemption for farmers translate to subsidies for fossil fuel producers? I bet a dollar to a donut that the entity that calls itself "overseas development institute", heats and lights their offices and runs their vehicles on fossil fuel. Fossil fuel producers keep the world civilized and comfortable while revolutionary greenie shitbirds do nothing but fill low information liberals with a lot of junk science and political spin.

 

[Spiderman]

Food for thought

The Surprising Reason That Oil Subsidies Persist: Even Liberals Love Them - Forbes

The summary of oil-related subsidies in the U.S. for 2010 totals $4.5 billion. That is a number often put forward; $4 billion a year or so in support for those greedy oil companies.

But look at the breakdown. The single largest expenditure is just over $1 billion for the Strategic Petroleum Reserve, which is designed to protect the U.S. from oil shortages. The second largest category is just under $1 billion in tax exemptions for farm fuel. The justification for that tax exemption is that fuel taxes pay for roads, and the farm equipment that benefits from the tax exemption is technically not supposed to be using the roads. The third largest category? $570 million for the Low-Income Home Energy Assistance Program. (This program is classified as a petroleum subsidy because it artificially reduces the price of fuel, which helps oil companies sell more of it). Those three programs account for $2.5 billion a year in “oil subsidies.”

 

[Mr. H.]

While the report acknowledges there is currently no globally agreed definition of what constitutes a subsidy...

 

[whitehall]

Why do global warming tin foil hats slurp up the pablum offered by foreign left wing revolutionaries? Let me ask again, how does a (US) fuel tax exemption for farmers translate to subsidies for fossil fuel producers?

 

[boedicca]

Why do global warming tin foil hats slurp up the pablum offered by foreign left wing revolutionaries? Let me ask again, how does a (US) fuel tax exemption for farmers translate to subsidies for fossil fuel producers?

Because to the Slurpers, letting people keep some of the money they earn is a subsidy.

 

[Old Rocks]

Fossil fuels were absolutely neccessary to get where we are today. As were horses.

 

[Mr. H.]

Fossil fuels were absolutely neccessary to get where we are today. As were horses.

...and the rapid dominance of fossil fuels didn't require the forced-extinction of horses as a means of taking out the competition.

 

[flacaltenn]

Fossil fuels were absolutely neccessary to get where we are today. As were horses.

And as tomorrow dawns men -- We RIDE !!!!! ------> jackasses..
If the wind blows and it don't rain or snow.

I'm thinking the thread I posted about the $1Bill/day being spent worldwide on non-productive "eco-solutions" is looking a LOT more accurate than this one..

 

[daveman]

Fossil fuels were absolutely neccessary to get where we are today. As were horses.

I don't see 98+% of the people travelling on roads today riding horses.

I DO see 98+% of the vehicles on the road today burning gas or diesel. I DO see 40+% of the electricity produced in this country today made by burning coal.

I DO see you thinking you had a point.

 

[OnePercenter]

Reactionary Liberals call standard tax deductions "subsidies"...the same deductions for depreciating capital expenditures that are used in other industries.

Tax deductions are subsidies. In economics, aid is a subsidy, and tax deductions are aid.

 

[Votto]

If it moves, tax it. If it stops moving, subsidize it. If it keeps moving, regulate it.

 

[OnePercenter]

Fossil fuels were absolutely neccessary to get where we are today. As were horses.

I don't see 98+% of the people travelling on roads today riding horses.

I DO see 98+% of the vehicles on the road today burning gas or diesel. I DO see 40+% of the electricity produced in this country today made by burning coal.

I DO see you thinking you had a point.

You'd better check your 40% claim, wall street crashed the natural gas prices and most, if not all coal fired have switched.

 

[Widdekind]

all subsidies are transfer payments

 

[daveman]

Fossil fuels were absolutely neccessary to get where we are today. As were horses.

I don't see 98+% of the people travelling on roads today riding horses.

I DO see 98+% of the vehicles on the road today burning gas or diesel. I DO see 40+% of the electricity produced in this country today made by burning coal.

I DO see you thinking you had a point.

You'd better check your 40% claim, wall street crashed the natural gas prices and most, if not all coal fired have switched.

It's far closer to 40% than your asinine "most, if not all" claim:

Energy sources and percent share of total electricity generation in 2012 were:

• Coal 37%
• Natural Gas 30%
• Nuclear 19%
• Hydropower 7%
• Other Renewable 5%

• Biomass 1.42%
• Geothermal 0.41%
• Solar 0.11%
• Wind 3.46%

• Petroleum 1%
• Other Gases < 1%