Research released to day by Bloomberg New Energy Finance exposes the political stances of progressive pols as hopelessly hypocritical. The news reveals that despite the hot air of politicians, governments of the world are spending 13 times as much money subsidizing dirty forms of energy over renewables and biofuels.
Governments provided $43-46 billion to renewable energy and biofuels technologies, projects, and companies in 2009, BNEF concludes in preliminary analysis. That total includes: feed-in-tariffs (FiTs), renewable energy credits or certificates (RECs), tax credits, cash grants, and other direct subsidies. It does not include subsidies to corn farmers to grow feedstock for use in US ethanol plants nor any value transfer due to carbon cap-and-trade schemes.
The figure contrasts $557 billion spent on subsidizing fossil fuels in 2008, as estimated by the International Energy Agency last month.
The full story http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100729006007&newsLang=en
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