The amount of public money flowing into coal, oil and gas in 20 of the world’s biggest economies reached a record $1.4tn(£1.1tn) in 2022.
Of all subsidies to the energy sector, about three-quarters go to fossil fuels. https://www.theguardian.com/environment/2023/aug/23/g20-poured-more-than-1tn-on-fossil-fuel-subsidies-despite-cop26-pledges-report
@MatthiasSchmelzer the Netherlands gave so much money to them. They put a limit on how much a KwH and a cubic meter of gas should cost, but didn’t restrict companies in raising prices. Result, they all doubled their prices, and the gov had to pay them the difference between max price and their price. Billions of euros in the Netherlands alone for that joke. And they tripled their profits that year. Surprise surprise
@MatthiasSchmelzer
ALL such subsidies must stop. That would free up money for things that are far more important, like rapidly expanding green industries.
@MatthiasSchmelzer subsidies this for an industry posting billions in profit quarterly... It boggles the mind.