Governments last year gave $43 billion to $46 billion in support of renewable energy compared to $557 billion spent to subsidize fossil fuels in 2008. In many cases I believe the public’s perception of subsidies is skewed like this. Though I had no idea subsidies skewed so far towards fossil fuels. 

As a nation in the midst of a recession we need to be subsidizing green technology so as to create jobs in a burgeoning new industry. If we don’t, China will, and we’ll lose out on thousands of good jobs.

Click the Bloomberg link to read the full story on the report Bloomberg New Energy Finance did.

Bloomberg via Inhabitat