US subsidies for fossil fuels 158% greater than renewables, says report; gov’t looks for phase out

In Washington, the federal government is said to be considering a phased end to fossil fuel subsidies. The oil, natural gas and coal industries received $72.5 billion subsidies over the past six-years, compared to $29 billion for renewable energy, according to a report published by the Environmental Law Institute, “Estimating U.S. Government Subsidies to Energy Sources: 2002-2008.” The proposal to end subsidies for fossil fuels is reported to be on the agenda for the G20 meetings later this month.

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