caruba wind energy

Wed, 2010-09-01 13:48Kevin Grandia
Kevin Grandia's picture

The Uneven Energy Playing Field and the Spindoctors who Ignore it

There has been a recent surge in articles from fossil-fuel friendly sources pointing to the inequity of tax credits and government subsidies being directed to the renewable energy sector. 

The latest is by Alan Caruba writing on the industry-backed CFACT website bemoaning a $7 million investment in a wind project in New Jersey. 

What Caruba and others fail to mention in their argument is that the fossil fuel industry - the main competitor to the renewable energy sector - receives more than ten times as much in government subsidies globally.

A recent report by Bloomberg New Finance finds that worldwide, the fossil fuel industry - which is made up mainly of oil, gas and coal companies - receives $557 billion a year in government subsidies while the renewable energy sector receives less than one-tenth of the support at around $45 billion.

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