Government expenditures on environmental protection
National governments began spending on environmental protection in the late 19th century, escalating after World War II due to pollution concerns. Key legislation emerged worldwide, including Japan’s 1967 law and the U.S. Endangered Species Act. In 2023, EU spending on environmental protection totaled €142 billion, highlighting diverse national priorities in tackling environmental issues.
Is the reserve-to-production ratio for fossil fuels a meaningful indicator?
The reserve-to-production (R/P) ratio calculates the lifespan of fossil fuel reserves based on production rates. In the U.S., regulatory frameworks affect reserve reporting, with oil R/P ratios declining from over 40:1 in the early 20th century to about 10:1 today. State-owned enterprises often inflate reserves, complicating future availability assessments.