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As World Burns, Richest Nations Can’t Decide When to End Fossil Fuel Handouts

Despite ambitious pledges, global energy ministers could not agree on a target date to phase out billions in subsidies to dirty energy The world’s richest nations have failed to agree on a deadline to phase out fossil fuels subsidies—a commitment energy ministers made in 2009—stirring new fears over the impact of the hundreds of billions of taxpayer dollars that go …

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Nick Beams – The G20 summit: A spectacle of political bankruptcy

The meeting of G20 finance ministers and central bankers held in Ankara, Turkey over the weekend underscored the inability of the major capitalist powers to initiate any measures to halt the recessionary forces overtaking the world economy. Rather than a proposal for concerted action, the official communique was a public relations exercise aimed at masking the acuteness of the crisis …