$88 billion a year in subsidies for climate disaster
Global governments spend more than double what energy companies invest to find new regions for oil and gas drilling, despite climate change
Publisher: Climate & Capitalism
Date Written: 16/11/2014
Year Published: 2014
Resource Type: Article
Cx Number: CX16936
Despite pledging in 2009 to phase out public subsidies for the fossil fuel industry, G20 countries have disregarded those promises and are currently spending $88 billion a year in taxpayer money to fund the discovery of new gas, coal, and oil deposits around the world.