Fossil fuel subsidies may hurt the world’s capacity to ramp up renewables use in two decades, according to campaigners. At present, they said, the world spends 12 times more on fossil fuel than on renewable energy sources. David Turnbull, campaigns director for Oil Change International, said the fossil fuel subsidies have to stop. World leaders had already pledged to phase out the fossil fuel handouts but data from the International Energy Agency show that they have in fact doubled in the years following that 2009 commitment. Fossil fuel subsidies are given to consumers to reduce the price of petrol, public transport and heating bills.
Click here to read the story.
