You are here

G-20 nations spend US$88b a year on fossil-fuel exploration

This despite their agreeing in 2009 to phase out inefficient fossil-fuel subsidies that encourage wasteful consumption
Wednesday, November 12, 2014 - 05:50

3312377.jpg
The G-20 group of major economies spend US$88 billion a year on fossil-fuel exploration, five years after pledging to phase out industry subsidies, a study showed.

London

THE G-20 group of major economies spend US$88 billion a year on fossil-fuel exploration, five years after pledging to phase out industry subsidies, a study showed.

Spending of US$17 billion and US$11.3 billion by state-backed oil companies Saudi Arabian Oil Co and Petroleo

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom