Reforming eliminating fossil fuel subsidies would save governments billions of dollars while significantly reducing greenhouse gas emissions and freeing up monies for incentives on cleaner forms of energy, according to the International Institute for Sustainable Development (IISD), a Canada-based research institute.
As we all know, the auto industry is sometimes subsidized by Governments, especially in hard times like this. In the case of the EU, its Commission President Jose Manuel Barroso and Industry Commissioner Guenter Verheugen have announced that the European car industry would get help - if automakers produce clean cars. The European Automobile Manufacturers Association (ACEA) wants a €40 billion loan package to help it develop EU-required green technologies. ACEA claims that, without this help