$5.3 trillion (or 4.7 trillion euros) : those are staggering figures as they amount to $10 million every single minute. The figures come from the International Monetary Fund, so one can be pretty sure of them.
To Desmogblog : ” The exact worth of massive global fossil fuel subsidies is incredibly hard to figure. There’s no real consistency in the definitions of subsidies, or how they should be calculated. “ ” As a result, estimates of global subsidy support for fossil fuels vary widely. According to a new analysis by the Worldwatch …
US advisor on sustainability and author Paul Gilding recently published on his blog a compelling, fantastic and stunning piece on how victory is at hand for the climate movement. You might believe this is some hyper optimistic hype. However, Gilding keeps piling arguments in his article ; arguments that I have developed on this very …
Yes, you read that right. According to a new report from the International Monetary Fund, governments around the world are giving in direct and indirect aids up to 1,900 billion USD ( 1,500 billion euros ) to fossil fuels subsidies each year. This total to 2.5 percent of global GDP. More importantly, ending those subsidies …
Global fossil fuels subsidies total $1.9 Trillion Read More »
In the wake of the tragic catastrophe and the nuclear incident that shook Japan in 2011, we have seen that the local government is willing to push renewable energy sources forward. Among them, solar energy and wind power. This has led to the installation of 1,12 GW of solar PV capacity in only nine months …
Earlier this week, the newly reelected US President Barack Obama addressed the nation in the annual State of the Union address. It was the occasion for President Obama to keep his hard stance on climate on energy. His previous speech during his second inaugural address had been a new hope for climate change. I stated …
Yesterday I published an lengthy article on how business leaders and elected representatives of the so-called ” developped countries ” are awakening slowly to the threat of climate change. While these are great news, we are still waiting for concrete actions that could actually have a chance to avoid catastrophes such as flooded cities, extreme …
President Barack Obama delivered his second Inaugural Address this Monday in Washington DC. Climate change got quite a few mentions and it looks like the second term might be the time where the climate crisis is tackled as it should. However, this was supposed to be the case in his first term. And many analysts …
It’s an habit, the prestigious International Energy Agency releases each November its famous flagship publication, the World Energy Outlook. Let’s review here the main findings and reactions. To the IEA , an important effort will have to be done as ” No more than one-third of proven reserves of fossil fuels can be consumed prior …
Saudi Arabia is the world’s largest oil producer with ten million barrels out of the 89 million consumed each day on Planet Earth. The consequences of this country having to import oil would be disastrous for our world economies. This scenario could actually take place in less than two decades, according to Citigroup as Bloomberg …
