G-20 Countries Will Phase Out Fossil Fuel Subsidies
PITTSBURGH, Pennsylvania, September 25, 2009 (ENS) – G-20 government leaders today concluded the Pittsburgh Summit with a commitment to phase out fossil fuel subsidies while providing targeted support for the poorest households. The leaders said that this unprecedented move is expected to encourage energy conservation, improve energy security, and kick-start their commitment to reduce greenhouse gas emissions. President Barack Obama called the decision an “historic effort that would ultimately phase out nearly $300 billion in global subsidies.”
