Environmentalists, look away now or prepare to feel deep despair.
The G20 group of leading global economies continue to spend about $88 billion each year on fossil fuel exploration, increasing the risk of “dangerous climate change”, according to a report by the Overseas Development Institute.
The top 20 private oil and gas companies invested just $37 billion in exploration in 2013 – less than half of that being ploughed in annually by G20 governments – suggesting their exploration activities are highly dependent on public finance.
So what’s up with all the green energy research? E&T news continues to track the latest developments in green energy in the hope that at some point the penny finally drops with those who dictate our energy sources.
Click on the graphic for an expanded view. And weep.