Thursday, 7 October 2010

EU tells Spain it is okay to keep subsidising coal industry

Interesting post here from Mines and Communities. It seems that the Spanish government has been given the go ahead by the European Commission to continue propping up its unprofitable coal mining sector until at least 2015. This is unsurprising, but still sad. Globally the fossil-fuel industry receives subsidies of $250-$500 billion per year (according to UNEP). This is substantially larger than the entire renewable energy industry. Now I am never one to argue that industries should not recieve some support if it is for the greater good, but it is hard to see what justification there is for bailing out one of the most polluting industries in the world, and also for doing it in such a quiet way...

And on that point, where are the freemarket warriors who so love to attack support for environmental industries when coal is being subsidised?

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