Though Norway has taken great strides to reduce their greenhouse gas emissions, the nation's continuing support of fossil fuels through subsidies is attracting criticism.
Norway's “Climate Cure 2020” program has been heralded as among the toughest measures in the fight against climate change to date.
By 2020, the country's goal is to cut total emissions by at least 30 percent — by which it would return to 1990 levels.
But while renewable energy companies grab just under $300 million in government subsidies, fossil fuel companies receive five times that: $1.4 billion.
International subsidy expert Peter Wooders has now publicly criticized the Norwegian government for their continued subsidies of the oil industry. Wooders, an economist at the Global Subsides Initiative (GSI), made his remarks at a seminar sponsored by The Bellona Foundation, a Norway-based environmental group.
“To maintain oil subsidies is to pour oil on fire,” said Wooders in his address. “Then we bind much of our economy with oil use at a time when we must step down in oil production.”
The message that Wooders and the GSI are sending is that removing subsidies could result in an economy that is not only freer, but greener and healthier as well.
“The countries save money by eliminating subsidies, money that can better be utilized for national priorities — such as health, education and so on,” Wooders claims.
Because of these unbalanced subsidies, vast government money is spent on a continuing search for oil, when those resources could be directed toward sustainable approaches to energy problems.
For example, oil companies operating in Norway are actually given tax write-offs when they hit a dry well. This type of measure, critics say, rewards and encourages oil exploration over green energy development.
GSI argues that if all energy subsides were eliminated, a more competitive renewable energy industry could emerge, eventually resulting in a five to ten percent drop in worldwide CO2 emissions.
Obviously, Norway isn't the only country that subsidizes fossil fuels so disproportionately...
Earlier this month, Green Chip Living detailed the startling amount of subsides America gives not only to energy companies, but to infrastructure and agriculture companies as well.
It all boils down to priorities. If countries want to get serious about reducing greenhouse emissions, sooner or later they're going to have to take a long hard look at these environmentally damaging subsides — and make some hard choices regarding where to invest taxpayer money.
Be Well,
Jimmy
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