IEA: Oil incentives should be shifted to renewable energy

[irishbobcat]

IEA: Oil incentives should be shifted to renewable energy
Governments should redirect oil subsidies to renewable energy to hasten the growth of low-carbon energy sources and lessen global dependence on coal and other high-carbon fuels, according to a report from the International Energy Agency. Coal supplied about 47% of the world's new electricity demand during the past 10 years, while renewable sources accounted for only 6.5%, the report said. "We must see more ambitious, effective policies that respond to market signals while providing long-term, predictable support," said Richard Jones, the IEA's deputy executive director.