G7 Nations Pledge to End Fossil Fuel Subsidies by 2025

Leaders of the UK, US, Canada, France, Germany, Italy, Japan and the EU urge all countries to join them in eliminating support for coal, oil and gas in a decade

The G7 nations have for the first time set a deadline for the ending most fossil fuel subsidies, saying government support for coal, oil and gas should end by 2025.

The leaders of the UK, US, Canada, France, Germany, Italy, Japan and the European Union encouraged all countries to join them in eliminating “inefficient fossil fuel subsidies” within a decade.

The World is Spending a Stunning $ 550 Billion per Year on Fossil Fuel Subsidies

Today, the Paris-based International Energy Agency released its 2014 World Energy Outlook, an annual data dump outlining where the world's energy use patterns are heading in the future. The basic upshot is that planet Earth is definitely moving in a cleaner and greener direction -- just not fast enough to save us from dangerous climate change.

New legislation proposes slashing 'Big Oil' subsidies to promote renewables

For some solar policy advocates, a recent bill introduced in Congress would appear to represent their dream legislation. After all, its purpose, as summarized simply in its introduction, is "to provide incentives for clean energy and to repeal fossil fuel subsidies for big oil companies."

This bill, called the Investing to Modernize the Production of American Clean Energy and Technology Act of 2012 (IMPACT Act), made an appearance on the U.S. House of Representatives' floor last week, when it was introduced by Reps. Ed Markey, D-Mass.; Henry Waxman, D-Calif.; John Larson, D-Conn.; Earl Blumenauer, D-Ore.; and Bill Pascrell Jr., D-N.J.