The CEO of one of the world’s biggest petroleum companies says his company will soon produce more natural gas than oil and is investing more than ever in biofuels. And this article from the Wall Street Journal says that Peter Voser of Royal Dutch Shell says he expects in the next 40 years, 40 percent of the world’s cars will …
Worldwide Oil Subsidies Could Top $500 Billion
Last September, the G-20 leaders announced during an event in Pittsburgh, that they are committed to phasing out controversial fossil-fuel based subsidies. According to the Global Subsidies Initiative, the G-20 leaders blame subsidies for encouraging wasteful consumption and undermining efforts to combat climate change. Referencing studies by the Organization for Economic Cooperation and Development (OECD) and the International Energy Agency …