Climate analysts encourage Obama to find money for coal, oil, and natural gas issues

2009-11-09 13:37:07 (GMT) (Caymanmama.com - Green Energy News)

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Natural gas processing plant

Portland, Oregon (CaymanMama.com) — Considering President Barack Obama has made heavy promises to get moving on the natural gas front, the nation’s climate analysts are now asking the president’s administration to use the opportunity to speak at an international finance meeting scheduled for this week.

The goal of the climate analysts is to have Obama end subsidies for coal, oil, and natural gas companies around the world. They also want Obama to act quickly on ending subsidies in America to companies who produce energy from fossil-based fuels, said Nancy Soderberg.

The savings of ending these subsidies could then be used to provide needed assistance to communities while they adapt to the evolving effects of climate change, Soderberg said in an article on the Huffington Post Web site.

According to OneWorld.net, “The world’s 20 wealthiest countries spend about $300 billion a year subsidizing the fossil-fuel industry. Just half that amount is what’s needed to “get far ahead” of the climate problem, said Soderberg. She believes the United States’ fair share of that sum is about $50 billion a year — or one-third of the global total.”



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