Please create an account to participate in the Slashdot moderation system

 



Forgot your password?
typodupeerror
×
Earth

G7 Nations Committing Billions More To Fossil Fuel Than Green Energy (theguardian.com) 205

An anonymous reader quotes a report from The Guardian: The nations that make up the G7 have pumped billions of dollars more into fossil fuels than they have into clean energy since the Covid-19 pandemic, despite their promises of a green recovery. As the UK prepares to host the G7 summit, new analysis reveals that the countries attending committed $189 billion to support oil, coal and gas between January 2020 and March 2021. In comparison, the same countries -- the UK, US, Canada, Italy, France, Germany and Japan -- spent $147 billion on clean forms of energy. The support for fossil fuels from seven of the world's richest nations included measures to remove or downgrade environmental regulations as well as direct funding of oil, gas and coal.

The analysis from the development charity Tearfund, the International Institute for Sustainable Development and the Overseas Development Institute showed that the nations missed opportunities to make their response to the pandemic greener. In most cases, money provided for fossil fuel industries was given with no strings attached, rather than with conditions requiring a reduction in emissions or pollution. The analysis found that eight in every 10 dollars spent on non-renewable energy came without conditions. This included lifelines that were thrown to the aviation and car industries, which received $115 billion from the G7 countries. Of that money, 80% was given with no attempt to force the sectors to cut their emissions in return for the support. Only one in every 10 dollars committed to the Covid-19 response benefited the "cleanest" energies such as renewables and energy efficiency measures.

This discussion has been archived. No new comments can be posted.

G7 Nations Committing Billions More To Fossil Fuel Than Green Energy

Comments Filter:
  • by Anonymous Coward on Wednesday June 02, 2021 @10:32PM (#61449248)
    What is so great about 525nm?

    SERIOUSLY.
  • The reality is fossil fuel supplies 84 percent the world's energy, yet green got roughly as much money from G7 (to produce much much less energy)

    • They don't understand, no... they don't want to understand that to develop green energy it takes money. And you can't shut down the world's economy to get it.
    • Re: (Score:3, Interesting)

      by wtvrtje ( 6971212 )
      true, but nothing is going to change if keep on trowing money at the fossil industry instead of investing in new solutions. Fact is that a lot of sustainable solutions are profitable already (without subsidies) unless the price of fossil fuels are kept low by subsidies and favourable regulations.
      • by eepok ( 545733 )

        That's not true at all. "... nothing is going to change if keep on throwing money at the fossil industry" is a childish outlook. It's not binary.

        We have been throwing massive funds at fossil fuels for the entirety of the lives of all living humans and we still are seeing massive growth in solar and wind power. We're seeing ongoing experimentation in hydrogen fuel cells and the genuine mass-marketing of electric vehicles.

        Ya, we would likely see quicker growth in more sustainable energy solutions if we dropp

    • by cfalcon ( 779563 )

      A solid point. Also odd is that nuclear didn't really appear in that summary at all. This is the strange sort of article that manufactures news where there is none to suit an agenda.

  • To translate that: (Score:3, Insightful)

    by arQon ( 447508 ) on Wednesday June 02, 2021 @10:57PM (#61449304)

    Oil companies etc have made so much money over the years that they buy their politicians wholesale, and are practised in doing so.
    "Green" companies, being newer and without those cash stockpiles / etc, and with less experience in the political game, can't buy quite as many.

    • So how much for a six-pack of politicians? I have a coupon!

    • by rtb61 ( 674572 )

      Well, at least we have a new measure for corruption in countries. The ratio between how much countries fund fossil fuel corporations with tax payer dollars and how much they fund renewable energy with tax payer dollars. Fund fossil fuels more corrupt, fund renewables less corrupt. Should local government fund renewable energy generation, not giving the money away but directly investing in renewable energy to power local government infrastructure, offices, service centres and sell surpluses back to the grid.

      • by Cederic ( 9623 )

        Well, at least we have a new measure for corruption in countries. The ratio between how much countries fund fossil fuel corporations with tax payer dollars and how much they fund renewable energy with tax payer dollars.

        Don't be silly.

        The UK alone raises $60bn in tax a year just from domestic power supplies and petrol/diesel sales. That all by itself covers more than the gap in investment into fossil vs so-called renewable energy across the whole of the G7.

        Now add in the other members of the G7 and all the investments mentioned in both fossil and other energy sources are entirely covered by taxes on fossil fuels alone.

    • by Ocker3 ( 1232550 ) on Thursday June 03, 2021 @12:36AM (#61449522)
      Plus renewable energy is almost by definition (and certainly design) more distributed both physically and financially, so there's less combined cash to swing at Politician's faces. Do renewable companies need to form Coops and demand more support from Governments? When dead fuel companies continue to get money hand over fist with no requirement to even think about changing their old polluting ways, with all of the writing on the wall, I'm really starting to get dispirited.
    • by I am Jack's username ( 528712 ) on Thursday June 03, 2021 @01:17AM (#61449624)
      "Everybody complains about politicians - everybody says they suck. Well where do people think these politicians come from? They don't fall out of the sky, they don't pass thru a membrane from another reality.

      They come from American parents, and American families, American homes, American schools, American churches, American businesses, and American universities; and they're elected by American citizens. This is the best we can do folks. This is what we have to offer. It's what our system produces - garbage in, garbage out. If you have selfish ignorant citizens, you're gonna get selfish ignorant leaders." - George Carlin, https://www.youtube.com/watch?v=23BJNveKMRI [youtube.com]

      When the vast majority of voters are omnicidal biosphere destroying greedy narcissists, then guess what kind of politicians they vote for: Tories, Republicans, and Democrats. Guess who they don't vote vote for: Greens.
    • by AmiMoJo ( 196126 )

      That's why the recent news of fossil fuel companies losing lawsuits and getting activists on their boards is so important. It's very clear by this point that they will have to be forced, kicking and screaming, to clean up.

    • It is such a sad state of affairs. They still need to buy the politicians. People still believe in quaint notions like democracy and people should vote for politicians and politicians should enact laws. It is high time we get rid of this inefficient system. Government means inefficiency. High time we privatize the government.

      USA IPO would be huge!

  • I'm as big a fan of solar and nuclear power as anyone- but the simple truth is that no mixture of green energy can grow to provide the entire worlds energy supply anytime soon.

    That is especially true when you factor in poor developing nations, if you cut off all oil you will crush growing economies.

    It absolutely makes sense to move forward with rapid deployment of nuclear and solar technologies, but we cannot be economically crushing half the worlds population in the attempt.

    • by Ocker3 ( 1232550 )
      Except R&D requires funding, which the dead fuel industry has been getting for over 100 years. Are you suggesting that these mega-billions are necessary to keep the oil and gas flowing? Because newly explored fields Cannot be exploited if we're to keep under our pollution goals.

      If even some of this funding was tied to expanding into renewable energy markets it would have an incredibly positive impact, the dead fuel companies would continue to make money, and the renewable energy market would produce
      • by Pinky's Brain ( 1158667 ) on Thursday June 03, 2021 @02:29AM (#61449732)

        Presumably a lot of the coal support is to keep the infrastructure running so you don't get rolling blackouts when demand hits peak next winter.

    • by q_e_t ( 5104099 )

      I'm as big a fan of solar and nuclear power as anyone-

      Why not also wind, which is pretty cost-effective these days?

  • by MacMann ( 7518492 ) on Thursday June 03, 2021 @01:27AM (#61449634)

    How about we develop green energy to the point it is more abundant, lower in cost, and more reliable than fossil fuels?

    People don't burn fossil fuels because they want to increase global warming, they burn petroleum and natural gas because they are low cost, plentiful, and we can draw on this power as we wish. The only energy source that has a chance to offer these things is nuclear fission.

    Hydroelectric dams are great if there's the right climate and geography for it. The same can be said for onshore wind and geothermal, they are limited by favorable climate and geography. Solar power is lacking in so many ways that this is the choice of last resort. If someone is using solar power then they are stupid or out of options.

    If people want to see more people choose green energy then find a way to make green energy better than fossil fuels in ways that matter to the buyer. That means it has to be there when and where they need it, and at a price they are willing to pay. Until people can offer this then expect more buying of fossil fuels. We can't just tax our way out of this, such as with carbon taxes and energy subsidies. A tax and spend policy doesn't remove the real drag expensive energy has on the economy, and people aren't going to vote themselves into energy poverty. The real and actual cost of green energy has to be cheaper than fossil fuels, and be available where and when people need it.

    The answer to that problem will most likely come with hydroelectric, geothermal, onshore wind, and nuclear fission energy. Transportation fuels will then be from synthesized hydrocarbons.

    • The only energy source that has a chance to offer these things is nuclear fission.

      [citation needed]

    • by AmiMoJo ( 196126 )

      How about we develop green energy to the point it is more abundant, lower in cost, and more reliable than fossil fuels?

      We are already there, except the abundant bit.

      Renewable energy is already cheaper than fossil or nuclear. It's highly reliable too. All we need is a lot more of it.

      The problem is entrenched interests that don't want to give up their fossil fuel businesses.

      • We are already there, except the abundant bit.

        Then that's a problem, is it not?

        Renewable energy is already cheaper than fossil or nuclear. It's highly reliable too. All we need is a lot more of it.

        Really? Solar power only works when the sun shines which, last I checked, the sun stops shining with aggravating regularity. It's so bad that getting a capacity factor over 30% from any solar power facility is quite likely impossible on Earth. We could put solar collectors in orbit so the sun shines on the collectors with greater regularity but as Elon Musk will point out when asked this comes with considerable losses in conversion and transmission.

        Wind power has a simila

        • by AmiMoJo ( 196126 )

          My electricity supply is 100% renewable. No fossil, no nuclear. It's also very reliable. Somehow they keep the lights on at night.

          It's the cheapest option too. I check regularly, the providers who use fossil/nuclear are all more expensive at retail.

          • by MacMann ( 7518492 ) on Thursday June 03, 2021 @09:23PM (#61452654)

            Two things that come to mind.

            First, I don't believe you. Even if true that doesn't mean it works everywhere.

            Second, even if your electricity is 100% free of nuclear and fossil fuels there's still a large investment in fossil fuels for transportation. Maybe you charge up your Tesla with solar panels on your roof, but that Tesla was built in a factory powered by nuclear and fossil energy, as were those solar panels.

            I will believe in an economy 100% free of nuclear and fossil fuels when there are factories producing solar PV cells powered by the cells that factory produced. The silicon would have to be refined without use of coal. The aluminum frames on those solar panels would have to be powered by windmills, and like the silicon without coal in the reduction of the ore.

            Let us not forget that there's been a political opposition to the advancement of nuclear power for the last 50 years or so. In the USA it's been the Democrat party tossing wrenches into the works to develop better nuclear power. Australia has its opponents, including that moonbat Dr. Helen Caldicott. She's been traveling throughout the English speaking world to bolster other moonbats in Canada, UK, USA, and New Zealand. I'm sure France and Germany have their own moonbats.

            This isn't a discussion just about electricity, it is about all fossil fuels. Transportation runs on hydrocarbons because hydrocarbons are just awesome fuels. To get away from petroleum will mean we produce them some other way. We can make electric cars. We can make electric trains. We can't make electric airplanes, long haul trucks, ships, or rockets to space. We can make nuclear ships, and nuclear rockets. For airplanes to keep flying we need hydrocarbon fuels, and we know how to make hydrocarbon fuels with nuclear power because the US Navy did the research.

            In the USA the Democrats lost much of their opposition to nuclear power. It's a losing position to take politically now. I expect this to spread to other nations. Japan is restarting their nuclear power plants, and have plans to build more. If there is any nation on this planet with a reason to oppose nuclear power it is Japan, but their time without nuclear power meant rising energy costs and declining air quality. Without nuclear powered aircraft carriers stationed near Japan they'd have problems defending themselves and dealing with the tsunami and the nuclear reactors it damaged.

            That's another thing about nuclear power. There was a tsunami that hit Japan, washed thousands of people out to sea to die, caused just unimaginable damage, and all people can talk about is the nuclear reactors at Fukushima. People were found dead there, killed by the tsunami. There was one suspected death from radiation, not proven just suspected. Many people died from the unnecessary evacuation around the reactors. People fled the nation not realizing that they got more radiation on the flight out of the country than if they had stayed. These actions taken from "an abundance of caution" only made things worse.

            So, assuming you are correct that all of your electricity comes from non-nuclear and non-fossil sources that still leaves your transportation dependent on fossil fuels. Your ability to get your electricity from non-nuclear and non-fossil sources does not mean everyone else has that opportunity. Wind and solar may be less expensive than nuclear power now but the good spots for cheap wind and solar will be used up quickly, and in this time while wind and solar power are developed nuclear power is developing as well. Nuclear power will get cheaper but that is not a sure thing with wind and solar. We can produce carbon neutral transportation fuels from most any electricity source but given some very real economic issues the chances are that it will only be viable with nuclear fission.

            Your situation is the exception, not the rule. The rule is that to keep the lights on we will need nuclear power. If environmental destruction concerns you then think of the env

            • by AmiMoJo ( 196126 )

              First, I don't believe you.

              https://octopus.energy/renewab... [octopus.energy]

              You can check their tariffs. I use comparison sites to find the lowest costs every year, and for the past few it's been Octopus 100% renewable energy.

              Maybe you charge up your Tesla with solar panels on your roof, but that Tesla was built in a factory powered by nuclear and fossil energy

              Excuse me, the goalposts were over there. Please move them back.

              Your situation is the exception, not the rule.

              Octopus is a major supplier in the UK, and not alone. There are a few others offering 100% renewable energy now. They have a national advertising campaign and consistently gain customers from comparison sites that show them to be the cheapest.

              Let us not forget that there's been a political opposition to the advancement of nuclear power for the last 50 years or so.

              Even in China? Anyway

  • Read the article (Score:5, Insightful)

    by DrMrLordX ( 559371 ) on Thursday June 03, 2021 @03:07AM (#61449798)

    "This included lifelines that were thrown to the aviation and car industries, which received $115bn from the G7 countries. Of that money, 80% was given with no attempt to force the sectors to cut their emissions in return for the support."

    That should tell you everything you need to know about this "study". They act as though $189 billion went directly to petroleum and coal producers. It didn't.

  • Misleading Article (Score:5, Interesting)

    by ytene ( 4376651 ) on Thursday June 03, 2021 @03:36AM (#61449860)
    I'm very much in favour of supporting a move to eliminate the use of all fossil fuels and doing our best to undo the decades of abuse we have committed against our home.

    But the linked Guardian article is totally misleading and disingenuous.

    Using a window in time that spans the 2020 pandemic, it makes claims (without citation) such as, "...new analysis reveals that the countries attending [the up-coming G7 meeting] committed $189bn to support oil, coal and gas between January 2020 and March 2021. In comparison, the same countries – the UK, US, Canada, Italy, France, Germany and Japan – spent $147bn on clean forms of energy."

    But if you stop and think about that for a minute, in the time period shown, Covid travel restrictions caused a precipitous drop in the amount of international air travel. A typical passenger jet making a trans-Atlantic crossing could consume 100 tons of fuel, so the near elimination of a significant portion of travel for the best part of a year would have had a devastating economic impact on the petrochemical industry had some form of investment not been made.

    I'm not suggesting it is right, I'm just suggesting that the huge size and scale of the petrochemical industry meant that had it been allowed to fail [in significant part] the risk of that becoming a "domino effect" and tanking even more of the world's economy for an even longer period of time would have been very, very high - bordering on near certainty. By comparison, the renewable energy industry is not only still a tiny fraction of the fossil fuel industry, but it has momentum behind it. As we saw in Texas earlier in the year, homes with off-grid energy production were able to better cope with the freezing temperatures.

    So yes, let us by all means keep pushing the governments of the G7. In fairness to the Guardian article, they do go on to point out that of the $115 billion thrown as a lifeline to the aviation and car industries during the period covered by the article, "80% was given with no attempt to force the sectors to cut their emissions in return for the support".

    Of course, what the article then fails to discuss is why the G7 governments failed to extract any meaningful concessions in return for all of this public-taxation-funded largesse. The answer, of course, is simple: corruption. The lobbying for that funding would have been intense.

    And the temporary blindness from market watchdog organizations around the world has been similarly interesting. It simply isn't possible to just "turn off" an oil refinery, in large part because of the costs and risks associated with attempting a restart. So with the oil industry producing a massive surplus of fuel, how come the price we have paid for gas hasn't fallen through the floor? The oil companies should have been giving the stuff away, right? The answer? You got it, more corruption. Governments turned a blind eye because the oil lobby begged them to do so, arguing that the governments should not be kicking an industry after it was knocked down.

    Maybe. But what governments should also be doing is putting all major industry sectors on notice: no more government bail-outs. Your companies need to build cash reserves sufficient to enable you to survive this sort of economic down-turn... and if you don't, you have no right to stay in business.

    Chances of that happening??? Yeah, right.
    • by AmiMoJo ( 196126 )

      The more striking thing about those numbers is how little money is going into renewables. $147bn from the G7 is nowhere near enough. The pandemic is an opportunity to have a green revolution. Reduce by not commuting to offices so much, and generate more renewable energy and jobs to recover from the economic hit.

      $147bn would be low in a normal year, but right now the G7 should be putting in 5x that much at least.

      • by ytene ( 4376651 )
        I completely agree... but I'm coming round to the view that simply "pushing a renewable agenda" isn't enough any more. We need our federal and state governments - actually, we need *all* governments the world over - to start putting conditions on land zoning and building permits.

        Are you a builder wanting to develop a property? Guess what: you won't get planning permission unless you commit to having solar and/or wind and/or a ground pump. You won't get permission unless you have sufficient off-road parki
        • by AmiMoJo ( 196126 )

          Agreed, it's insane that new buildings are going up without solar, heat pumps and proper passive heating/cooling.

    • Unfollowed TheGuardian for a while now over its reportage, its methods and the ends to which it means to achieve.

      Its rare and narrow the amount of brain cycles to which I have available to parse facts from realities in context to the story arc presented such as you’ve enjoyed on this one.

      • by ytene ( 4376651 )
        Ditto... Started to take an interest in their work when Glenn Greenwald began his coverage of Edward Snowden's disclosures. But I found that the editorial pitch of the paper changed markedly when Alan Rusbridger stepped down and that event really marked me stopping paying any attention.

        I did briefly follow Greenwald to the Intercept, but it didn't take long for his "Prima Donna" attitude to foment trouble and his departure, which of course was followed by more catty back-stabbing.

        I find that in order
    • by tomhath ( 637240 )

      The analysis from the development charity Tearfund, the International Institute for Sustainable Development and the Overseas Development Institute...

      Consider the source of the "study". No way it would be biased. \s

    • While you make a good point, you miss the fact that much of the money which the study says those countries spent to "support oil, coal, and gas" did not go to any oil, coal, or gas companies. Instead it went to automobile manufacturers, airlines, and other companies which either consume fossil fuels or manufacture products which consume fossil fuels. So, during a time of serious economic dislocation those governments spent money to support industries which were hurt by that dislocation.
  • Well, that's encouraging news. It turns out that not actually everyone is insane.

Top Ten Things Overheard At The ANSI C Draft Committee Meetings: (10) Sorry, but that's too useful.

Working...