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What Does $1 Trillion in Fossil Fuel Subsidies Look Like?

Energy

Oil Change International

By David Turnbull

Recently we wrote about calling on governments to end global fossil fuel subsidies. Well, here’s yet another compelling reason why. In the graphic below you can see that according to Oil Change International analysis, governments around the world are spending perhaps more than $1 trillion USD combined per year subsidizing the fossil fuel industry.

But what makes it even worse is that governments aren’t willing to own up to the fact that this is the case. That’s a lot of money to be wasting and hiding, and it could be put to better use for education, hunger, poverty, renewable energy and many many other far-more valid uses. It’s time for governments to own up to the truth and come clean on the billions being thrown away to a dirty industry. Check out more below:

Learn more about fossil fuel subsidies on our international fossil fuel subsidies page, and join us and a large number of partners on June 18 as we storm twitter to call for governments to #endfossilfuelsubsidies.

Visit EcoWatch's ENERGY page for more related news on this topic.

 

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