
A significant problem with the old bulbs is that around 90% of their energy used is lost in heat, whereas compact fluorescent fittings run much cooler. It takes a 60 watt incandescent fitting to make the same amount of light as a 20 watt compact fluorescent fitting.
The graphic above explain it all. Although more expensive to buy, compact fluorescents are cheaper to run, last longer and use less electricity (ie emit less greenhouse gasses) than incandescent fittings.