MEDIA ROOM / MEDIA RELEASES
    October 5, 2011

    Energy subsidies part of international fuel industry

    Contact: Joshua Morby - 414.344.1733

    MILWAUKEE
    – With the level of scrutiny the biofuel industry receives regarding energy
    subsidies, the funding allocated in support of the fossil-fuel industry is
    substantially greater.

    “It’s
    important to talk about fuel subsidies, but it’s equally as important to
    recognize that the international fossil-fuel industry is heavily subsidized,”
    says Josh Morby, executive director of the Wisconsin Bio Industry Alliance. “To
    believe that the biofuel industry receives support at the level that big oil
    does is grossly inaccurate.”

    Late last week, the
    International Energy Agency reported that global fossil-fuel subsidies have
    grown to nearly a half-trillion dollars in 2010, an increase of $110 billion
    over 2009. The report also estimated that these subsidies could expand to $660
    billion or 0.7% of global GDP by 2020.

    This
    increase in funding has occurred despite a 2009 commitment by the G20 countries
    to eliminate both consumption and production subsidies for the international
    fossil-fuel industry.

    “We
    know that the way to decrease dependence on fossil fuels and big oil is to devote
    resources to the pursuit of renewable, biofuel alternatives,” Morby says. “But
    we also that the level of support for fossil fuels far exceeds that allocated
    to biofuels, both in the United States and internationally.”

    The
    Wisconsin Bio Industry Alliance is a diverse group of businesses, environmental
    groups and statewide and local organizations that have come together to build
    both public and legislative awareness of the Bio Industry in Wisconsin.


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