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“The G20 countries spend almost four times as much to prop up fossil fuel production as they do to subsidize renewable energy, calling into question their commitment to halting climate change, a think tank said.

“The G20 spent an average $78 billion on national subsidies delivered through direct spending and tax breaks in 2013 and 2014, according to a report from the Overseas Development Institute (ODI).

“View of smokestacks, about 200m (656 feet) high, at a thermal power plant in Inchon, west of Seoul, Feb. 1, 2007.  Credit: Reuters

“A further $286 billion was invested in fossil fuel production by G20 state-owned enterprises. Related public finance was estimated to average a further $88 billion a year.”  From: www.climatecentral.org

GR:  The energy industry control of government policy and spending will make enforcement of any emissions pledges difficult to enforce.  The writing is on the wall, however, and some investors will switch…