phasing out fossil fuel subsidies

For many decades, developed and developing countries alike have subsidized fossil fuels as a means of ensuring that these sources of energy - central to economic development over the past century - can remain relatively inexpensive. Yet, as it has become clear that fossil fuels will continue to deplete over the next decades and century, that renewable energy sources of different kinds will become the replacement fuel of choice, and as the desire for cleaner sources of fuel has grown with concerns over climate change, many have pressed to end or phase out fossil fuel subsidies. It is becoming increasingly common for high profile national and international leaders to call for ending fossil fuel subsidies, and to introduce legislation to this effect. What are your views on phasing out fossil fuel subsidies?
 
Not all fossil fuels are the same. Some are more polluting than others. Natural gas is one of the least polluting fuels, for example. Many people consider it to be a environmentally-friendly energy superstar for the 21st century. Therefore, subsidizing natural gas (a fossil fuel) can help reduce emissions and foster a cleaner environment.
 
The International Energy Agency put out its annual World Energy Outlook today and urges strong and sustained government support for the deployment of renewable energy. The agency pegs 2009 subsidies for renewables at $57 billion and calls for that to increase to $205 billion by 2035. "The share of modern renewable energy sources, including sustainable hydro, wind, solar, geothermal, modern biomass and marine energy, in global primary energy use triples between 2008 and 2035 and their combined share of total primary energy demand increases from 7 per cent to 14 per cent," according to the agency. Fossil fuel subsidies stood at $312 billion in 2009 and the agency urged that they be eliminated to accelerate the transition to renewables.
 
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