A thousand billion dollars, or if you prefer, a trillion dollar. This is the staggering amount of money you and I are handing out to Big Fossil fuel companies each year by the mean of governmental subsidies.
At a time of climate weirding and warming, massive pollutions of our air, water and soil, massive unemployment and of a huge debt crisis, this is more than enraging.
Even more when one knows that real solutions like renewable energies benefit from a sixth of this money. It is time to turn the situation around and end fossil fuel subsidies.
With this money we could do more than a lot of things : We could push forward efficiency and renewables, we could pay back our sovereign debts. We could give money for the millenium goals…
Interestingly, Ecofys a leading consulting company in energy released a study pointing out that ending fossil fuels subsidies would cut by up to 0.9 Gigatonnes of Carbon dioxide equivalent per year by 2020, making it one of the most important steps to be taken.
Will get back to this study, so stay tuned…