Overseas aid to Africa being outweighed by hefty costs of importing oil | Conscious Travel | Scoop.it
Sub-Saharan states need to move to renewable energy sources as $15bn in aid is outstripped by $18bn in oil imports, says IEA...


But not only Africa is affected. Europe will suffer competitiveness loss as a result of oil dependence. "...for every $1 that countries do not spend on cleaner fuel, they will have to spend $4.3 within the next two decades to make up, for their reliance on fossil fuels".  EU oil bill is more than 550bn per year, the "equivalent of a Greek crisis - very year".

Via Willy De Backer