In the early morning of November 10, Beijing time, the report released by the International Energy Agency (IEA) on Wednesday showed that last year, fossil fuel consumers worldwide enjoyed six times the state subsidies received by the clean energy industry.
In its report entitled World Energy Outlook, the International Energy Agency pointed out that with the rise of global energy prices, state subsidies for reducing the price of gasoline, natural gas and coal have also increased by more than one-third to US$399 billion. In the same period, subsidies for clean energy such as biofuels, wind power and solar energy were only US$66 billion.
The report pointed out that although fossil fuels can still meet most of the needs of global energy consumption, such subsidies actually "created market misunderstandings and encouraged wasteful consumption." The report also stressed that "these subsidies on fossil fuels generally outweigh the disadvantages."
According to the report, the G20 countries claimed in 2009 that they had to eliminate state subsidies for energy products such as oil, coal, and natural gas, and that the U.S. energy subsidies were also an important issue for the presidential election next year.
In its report entitled World Energy Outlook, the International Energy Agency pointed out that with the rise of global energy prices, state subsidies for reducing the price of gasoline, natural gas and coal have also increased by more than one-third to US$399 billion. In the same period, subsidies for clean energy such as biofuels, wind power and solar energy were only US$66 billion.
The report pointed out that although fossil fuels can still meet most of the needs of global energy consumption, such subsidies actually "created market misunderstandings and encouraged wasteful consumption." The report also stressed that "these subsidies on fossil fuels generally outweigh the disadvantages."
According to the report, the G20 countries claimed in 2009 that they had to eliminate state subsidies for energy products such as oil, coal, and natural gas, and that the U.S. energy subsidies were also an important issue for the presidential election next year.
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