Fossil fuel subsidies growing despite concerns (BBC)
By Richard Anderson
Business reporter, BBC News
Government subsidies for renewable energy cause great consternation to those who believe in the sanctity of free markets.
"If they can't stand on their own feet, then why support them?" they often say.
But in actual fact, most energy sources are subsidised, and none more so than fossil fuels. Indeed in straight numerical terms, subsidies for oil, coal and gas far outweigh those for renewables.
According to the International Energy Agency (IEA), in 2012 global fossil fuel subsidies totalled $544bn (£323bn; 392bn euros), while those for renewables amounted to $101bn. The International Monetary Fund (IMF) puts the total for hydrocarbons nearer $2 trillion.
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The subsidies come in many different forms, which helps to explain the massive discrepancy in estimates - the IEA focuses on subsidies that have a direct impact on the consumer, whereas the IMF includes those aimed at producers, such as tax relief and the cost of carbon.
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more: http://www.bbc.com/news/business-27142377
