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The IMF says we spend $5.3 trillion a year on fossil fuel subsidies.

2015-05-21 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Vox: This week, the International Monetary Fund put out a big report claiming the world spends $5.3 trillion a year subsidizing energy, mainly fossil fuels. That's an eye-popping number. And it led to plenty of outraged headlines: Look at all that money we're forking over to Big Oil! That's $10 million every minute! What's more, the IMF noted that if we yanked away all these "subsidies," global carbon dioxide emissions would drop 20 percent -- a huge step toward dealing with climate change. The only...

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Eidesvik Viking Queen retrofitted with 650 kWh energy storage system for hybrid system; 18% fuel savings; ThinkGlobal connection

2015-05-20 21:55:37| Green Car Congress

Tags: system energy connection storage

 
 

Lifecycle study finds fuel switching from diesel to natural gas could produce net climate damage absent reductions in CH4 emissions and improved vehicle efficiency

2015-05-20 13:55:32| Green Car Congress

Tags: net study natural produce

 

United Kingdom: 'Greatest university' curbs fossil fuel investment in endowment

2015-05-19 18:36:00| Climate Ark Climate Change & Global Warming Newsfeed

Bloomberg: Oxford University said it would curb some of the most polluting fossil fuel-related investments in its 1.7 billion-pound ($3.3 billion) endowment, making it the most prominent institution to join the growing campaign for divestment from the industry. The university's governing board said it will avoid direct investments in coal and oil sands companies, of which it currently has none, and that it will also steer clear of sectors with high social and environmental risks, according to a statement released...

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Fossil Fuel Subsidies to Hit $5.3T in 2015, Says IMF Study

2015-05-19 14:46:00| Climate Ark Climate Change & Global Warming Newsfeed

RTCC: Subsidies for fossil fuels that cause climate change have soared since 2013, a new study from the International Monetary Fund has revealed. Oil, gas and coal costs will be subsidised to the tune of US$5.3 trillion a year in 2015. The last time the IMF ran the data it calculated they were worth $1.9 trillion. Economists say the latest figures are more accurate as they represent the true cost of energy, which includes the environmental, health and climate impacts of burning fossil fuels. Over...

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