Global fossil fuel consumption subsidies fell in 2009

February 11, 2015

"Global fossil fuel consumption subsidies fell to $312 billion in 2009 from $558 billion in 2008, a decline of 44.1 percent. The reduction is due primarily to changes in international energy prices as well as in domestic pricing policies and demand, rather than because the subsidies themselves were curtailed. The number also does not include fossil fuel production subsidies that aim at fostering domestic supply, which are estimated at an addition $100 billion globally per year."

 

Alexander Ochs and Annette Knödler, "Value of Fossil Fuel Subsidies Declines, National Bans Emerging," Vital Signs. May, 2012. Accessed on 28 May 2013. http://vitalsigns.worldwatch.org/vs-trend/value-fossil-fuel-subsidies-de...
 

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