Gas glut threatens climate battle-IEA

Posted by Reuters: Emma Farge on September 14th, 2012
Reuters: A new "golden age of gas" could derail global efforts to fight climate change as indebted governments mull a switch to the cheaper fuel, the International Energy Agency's chief economist said on Thursday. Government subsidies designed to promote renewable energy currently amount to around $70 billion globally, he said. But governments may be tempted to drop them as new shale gas and export facilities of liquefied natural gas (LNG) in east Africa and Australia pressure prices lower. "Governments......

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