Connect with us

Hi, what are you looking for?

CleanTechnica

Climate Change

Breaking: Obama Gets G-20 to End $558 Billion in Fossil Fuel Subsidies

With the evidence of our gluttony for oil now rudely lapping at our shores, at the G-20 meeting that just wrapped up in Toronto, Obama pressed for and got agreement from other world leaders to actually end fossil fuel subsidies, by erasing the word “voluntary” in the agreement, the Los Angeles Times is reporting.

[social_buttons]

Despite the earlier fears of environmentalists that it would be merely a voluntary “goal”,  at the last minute a newly muscular non-voluntary end to fossil energy subsidies, was inserted into the final language of the G-20 agreement, at the request of the US President. America.gov found that fossil fuel subsidies amounted to $558 billion worldwide in 2008.

The top 20 nations at the G-20 have now also agreed to ongoing reviews to check on how well each of them lives up to the commitment.

Initially, the agreement was to be a mere “voluntary” agreement, to the alarm of environmentalists. But at the last minute, President Obama changed the wording. By omitting the word “voluntary”, and including checkups, the agreement becomes much stronger.

It appears that coaxing world leaders who run actual democracies to do the right thing for their people is not as difficult as coaxing Senators in this country to.

As the nation that most pampers its fossil energy overlords, it will be US fossil energy companies with the most to lose by this end to fossil fuel subsidies. But with an international agreement, even those that relocate their headquarters off-shore will now be covered by this agreement.

Despite the fossil fuel subsidies that a mere president cannot end, those that keep our  Senate from voting with their non-corporate constituents, perhaps America is finally ready to move beyond petroleum.

So far, we’ve cheerfully led the world in the inefficiency of our gasoline vehicles, with 34% sold only getting between 15 and 20 miles per gallon – compared with the carbon-constrained EU where under 1% of vehicles sold are now that inefficient. So our carbon emissions are almost double those of the EU at 256 grams per kilometer, compared with their 140.

But have we finally hit our rock bottom, as they say in the addiction-recovery world? Has the gushing volcano of dangerous oil in the Gulf finally moved us to a different place?

Image: Guardian

Susan Kraemer @Twitter

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

writes at CleanTechnica, CSP-Today and Renewable Energy World.  She has also been published at Wind Energy Update, Solar Plaza, Earthtechling PV-Insider , and GreenProphet, Ecoseed, NRDC OnEarth, MatterNetwork, Celsius, EnergyNow, and Scientific American. As a former serial entrepreneur in product design, Susan brings an innovator's perspective on inventing a carbon-constrained civilization: If necessity is the mother of invention, solving climate change is the mother of all necessities! As a lover of history and sci-fi, she enjoys chronicling the strange future we are creating in these interesting times.    Follow Susan on Twitter @dotcommodity.

Comments

You May Also Like

Bicycles

City or suburb, Honbike turns the zero emission e-bike experience into an eye-catching adventure.

Cap And Trade

The narrative that Americans and many Europeans share about China and themselves is not aligned with observable reality, and the USA is in significant...

Cars

Omar Qazi (@WholeMarsBlog on Twitter) has a very interesting take on the recent “Inflation Reduction Act” that is very cynical in regards to the...

Biomass

The power of the renewable energy lobby in Arizona will be tested as the US Senate (finally) votes on the Inflation Reduction Act of...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.