Back in the summer of 2009, G20 (The Group of Twenty Finance Ministers and Central Bank Governors) leaders from around the world pledged to “rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption.” But 14 months later, not a single fossil fuel subsidy has been cut in any nation that agreed to the pledge. Over at The Price of Oil, a study prepared by Oil Change International and Earth Track, entitled “G20 Fossil-Fuel Subsidy Phase Out” shows that these countries are just renaming and/or defining fossil fuels in different manners so that the subsidies can remain in place. I know that the fuel subsidies are not going anywhere anytime soon in the U.S., as the oil industry pretty much owns the political process right now (except in CA last Tuesday!), but to see 19 other nations doing the same is very disheartening.
If you want to read the full report, you can download a PDF of it right here. The country by country list starts on Page 5 of the PDF, and outlines what each one has been doing for the last 14 months – a whole lot of nothing.
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