Fossil fuel subsidies top $550b: IEA

[Sam Fraser]

The world economy spends more than $550bn in energy subsidies a year, about 75 per cent more than previously thought, according to the first exhaustive study of the financial assistance devoted to oil, natural gas and coal consumption.

The study by the International Energy Agency... estimates that in 2008 – the latest year for which data are available – 37 large developing countries spent about $557bn in energy subsidies... Previous estimates put it at about $300bn.

http://www.ft.com/cms/s/0/27c0ff92-7192-11df-8eec-00144feabdc0.html?ftcamp=rss

If only 1% was diverted to lunar SPS, just think of what could be accomplished! I'd be interested to know if any similar studies have been done on world green energy subsidies.

[Sam Fraser]

I see no one's posted in reply to this. Perhaps you're all still reeling in shock. :eek: :)

I'm trying to find recent authoritative figures on total worldwide subsidies and other kinds of support like tax credits for other energy sources: nuclear, hydro, geothermal, biofuels, solar and wind, as well as nuclear fusion research. Maybe some of those will be grouped under some generic label like "green energy" or renewables, which is perfectly OK. Any takers?

It's good to have these kinds of numbers up our sleeves the next time we get "SBPS isn't economic" or "There's no money". We can counter with points like it's crazy to subsidise solar on Earth at $Xb a year when 99.9999999% of the sun's energy is in space. We're only talking about redirecting existing targeted expenditure. Just in 2009, tax credits for bio-ethanol in the US alone cost $6 billion (http://www.cbo.gov/doc.cfm?index=11477)!

[joertexas]

I see no one's posted in reply to this. Perhaps you're all still reeling in shock. :eek: :) [/URL]!

Look at what British Petroleum has spent on their little oil spill oopsie in the Gulf of Mexico...

JR

[Sam Fraser]

Yep. $20 billion alone in an escrow account for claims.

[Rhyshaelkan]

*Sigh* $20 B and all my dreams of world domination would come true. :D

[joertexas]

*Sigh* $20 B and all my dreams of world domination would come true. :D

And you could afford your meds again :p

JR

[Sam Fraser]

I'm trying to find recent authoritative figures on total worldwide subsidies and other kinds of support like tax credits for other energy sources: nuclear, hydro, geothermal, biofuels, solar and wind, as well as nuclear fusion research. Maybe some of those will be grouped under some generic label like "green energy" or renewables, which is perfectly OK. Any takers?!

"Renewables" received US$57b of "government support" in 2009 according to World Energy Outlook 2010 (http://www.worldenergyoutlook.org/docs/weo2010/weo2010_london_nov9.pdf) (PDF).

[Rhyshaelkan]

And nothing for more concrete plans for human colonization of space. I am convinced that the answers to Earth's closed system is out there.