Government subsidies for fossil fuels around the world just plain blow out renewable energy subsidies 10:1

August 10, 2010 at 11:01 pm

Removing these subsidies should make automobile travel fairly expensive (plus adding the carbon taxes would make it even worse) and will enable a proper “apples-to-apples” comparison of all modes of transportation. It will be interesting to see how the arguments of high-speed rail will start to look more appealing.

Amplify’d from green.autoblog.com
The Guardian recently reported that Bloomberg New Energy Finance has issued a report that found government subsidies for fossil fuels around the world just plain blow out renewable energy subsidies ten-to-one. Yes, for every dollar the auto execs don’t want spent on plug-in vehicles, there are more than ten bucks given to keep the gas and oil companies in the crude black. The report found that governments spent somewere between $43 and $46 billion on renewable energy and biofuel industries in 2009. By comparison, governments gave $557 billion to the fossil fuel industry in 2008.Read more at green.autoblog.com