Fossil fuels received $544B in subsidies around the world in 2012

12/9/2013 | DomesticFuel.com

Government subsidies for fossil fuel use totaled $544 billion last year, up from $523 billion in 2011, according to the World Energy Outlook. The subsidies "hurt developing economies and slow the development of alternative fuels, like biofuels," said Bliss Baker, spokesman for the Global Renewable Fuels Alliance. "The GRFA finds it worrying that although we seem to be very aware of climate change, the leaders of the world's most important nations have not slowed the subsidization of the consumption and production of crude oil in four years," Baker said.

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