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Natural Gas Industry: On the Dole Around the World

1 min. read

If you thought that fossil fuels like natural gas were only on the taxpayer-funded government dole in the United States, well think again.

Energy from gas power stations has been rebranded as a green, low-carbon source of power by a €80bn European Union programme, in a triumph of the deep-pocketed fossil fuel industry lobby over renewable forms of power.

In a secret document seen by the Guardian, a large slice of billions of euros of funds that are supposed to be devoted to research and development into renewables such as solar and wave power are likely to be diverted instead to subsidising the development of the well-established fossil fuel.

Add these new subsidies for a mature, highly profitable fossil fuel  to the $775 billion in subsidies (or more, possibly as high as $1 trillion) provided to fossil fuels worldwide in 2012 alone.  And for what purpose, other than the fact that the fossil fuel industries want to keep their gravy train flowing, and are wealthy and politically well-connected enough to get their way in the corridors of power?