Fossil fuel subsidies spending is five times more than climate aid to developing nations, the Oil Change International campaign group said. The Washington-based group said that in 2011 developed countries spent $58.7 billion in subsidies to oil, coal, gas industries and to their consumers. Climate aid allocation, on the other hand, was at a far $11.2 billion. Oil Change International founder Stephen Kretzmann said eliminating these subsidies would not only discourage pollution but would free up funds for the $100 billion a year climate aid promised by 2020.
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