International Energy Agency: The Door Is Closing On Climate Security

“On planned policies, rising fossil energy use will lead to irreversible and potentially catastrophic climate change,” the International Energy Agency reported with the release of the 2011 World Energy Outlook. The IEA found global fossil fuel subsidies of more than $400 billion, half to oil. In contrast, global subsidies for renewable energy was $66 billion. “The door to 2°C is closing,” the IEA warns. The next five years essentially determine the future of civilization. “Without further action, by 2017 all CO2 emissions permitted in the 450 Scenario will be ‘locked-in’ by existing power plants, factories, buildings.” “Without a bold change of policy direction, the world will lock itself into an insecure, inefficient and high-carbon energy system.”