G7 to phase out fossil fuels subsidies by 2025

This could be another turnaround for the fight against climate change as the G7 is willing to eliminate subsidies for oil, coal and natural gas within the decade.

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Fossil fuel subsidies are as high as ever

SubsidiesTo Desmogblog : ” The exact worth of massive global fossil fuel subsidies is incredibly hard to figure. There’s no real consistency in the definitions of subsidies, or how they should be calculated. “

” As a result, estimates of global subsidy support for fossil fuels vary widely. According to a new analysis by the Worldwatch Institute, these estimates range from $523 billion to over $1.9 trillion

I don’t know about you but I believe paying this much to keep on polluting our atmosphere and whole biosphere is just insane.

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