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UK received ‘£6bn in fossil fuel subsidies’

According to a report by research organisation Oil Change International, Britain received nearly £6bn in fossil fuel subsidies between 2013 and 2014, Energy Live News has reported.

It claims the subsidies are a result of the nation continuing to encourage offshore oil and gas in the North Sea.

The figure is “despite recent pledges by the government in support of the Friends of Fossil Fuel Subsidy Reform”, the report stated.

“The UK is also one of the few G20 countries increasing its fossil fuel subsidies while cutting back on support for the renewable energy investments which are needed to support a low carbon transition,” it added.

It claims that the US provided more than $20bn (£13m) in national fossil fuel production subsidies each year, despite calls from President Barack Obama to eliminate industry tax breaks.

In total, G20 country governments are providing $452bn (£297m) a year in subsidies for the production of fossil fuels.

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