fossil fuel subsidies

Fossil fuel subsidies have been described as "any government action that lowers the cost of fossil fuel energy production, raises the price received by energy producers, or lowers the price paid by energy consumers."{{Cite web |title=Fossil Fuel Subsidies & Finance |url=https://priceofoil.org/fossil-fuel-subsidies/ |access-date=2022-08-04 |website=Oil Change International |language=en-US}} Including negative externalities such as health costs results in a much larger total.{{Cite web |last=elf |date=2017-07-26 |title=New report highlights health costs of fossil fuel industry, calls for end to government subsidies |url=https://europeanlung.org/en/news-and-blog/new-report-highlights-health-costs-of-fossil-fuel-industry-calls-for-end-to-government-subsidies/ |access-date=2022-08-04 |website=European Lung Foundation |language=en-US |archive-date=17 March 2023 |archive-url=https://web.archive.org/web/20230317190759/https://europeanlung.org/en/news-and-blog/new-report-highlights-health-costs-of-fossil-fuel-industry-calls-for-end-to-government-subsidies/ |url-status=dead }} Thus by the IMF definition they are far larger than by the OECD and International Energy Agency (IEA) definitions.{{Cite web |date=31 March 2022 |title=Fossil fuel subsidies: Types, measurement, impacts and reform efforts |url=https://www.wto.org/english/tratop_e/tessd_e/iisd_presentation_fossil_fuel_subsidies.pdf}}

Subsidies for electricity and heat may be taken into account, depending on the share produced by fossil fuels. Sometimes there are disputes about what definition to use: for example the UK government said in 2021 that it uses the IEA definition and does not subsidize fossil fuels,{{Cite web |title=Oil and gas industry: outside interests |url=https://lordslibrary.parliament.uk/oil-and-gas-industry-outside-interests}} but others said the same year that under the OECD definition it does.{{Cite web |date=2021-11-11 |title=UK refuses to join trade pact to end fossil fuel subsidies, eliminate tariffs on green goods |url=https://www.politico.eu/article/uk-trade-pact-fossil-fuel-subsidies-tariffs-green-goods/ |access-date=2022-08-04 |website=POLITICO |language=en-US}}{{Cite web |title=Fossil Fuel Support - GBR |url=https://stats.oecd.org/Index.aspx?DataSetCode=FFS_GBR |access-date=2022-08-04 |website=stats.oecd.org}}

Subsidies may be estimated by adding up direct subsidies from government, comparing prices in a country to world market prices, and sometimes attempting to include the cost of damage to human health and the climate.{{Cite web|title=Abolishing Fuel Subsidies in a Green and Just Transition|url=https://www.allianz.com/content/dam/onemarketing/azcom/Allianz_com/economic-research/publications/specials/en/2021/may/2021_05_19_Fossil_Subsidies.pdf}} Setting fossil fuel prices that reflect their true cost would cut global CO2 emissions by 10% by 2030, according to the IPCC in 2023.{{Cite web |date=2023-03-23 |title=Want to cut global emissions by 10%? Stop fossil-fuel subsidies |url=https://qz.com/want-to-cut-global-emissions-by-10-stop-fossil-fuel-s-1850252198 |access-date=2023-06-04 |website=Quartz |language=en}} The International Institute for Sustainable Development say that G7 countries should reveal their subsidies every year under Sustainable Development Goal (SDG) indicator 12.c.1 (fossil fuel subsidies).{{Cite web |title=Four Ways the G7 Can Show Leadership on Fossil Fuel Phase-Out |url=https://www.iisd.org/articles/insight/g7-leadership-fossil-fuel-phase-out |access-date=2023-06-04 |website=International Institute for Sustainable Development |language=en}}

The fiscal cost of government support for fossil fuels was 1.1 trillion USD in 2023. Most (90%) of which is related to the consumption of fossil fuels. The fiscal cost of support for residential users was 189 billion USD in 2023, while for manufacturing and other industries it was 103.8 billion USD. The OECD said that "Most of this support lacked systematic targeting towards those in greatest need, raising both equity and efficiency concerns." Economic incentives to decarbonise from fuel taxes, carbon taxes, emissions trading systems (ETSs) and price-reducing support mechanisms - summarised in the net Effective Carbon Rate (Net ECR) - averaged EUR 14.0/tCO2e in 2023. The share of GHG emissions covered by a positive Net ECR was 42%; 27% of GHG emissions are covered by explicit carbon prices (carbon taxes or ETSs).{{Rp|page=4}}

The OECD said that "The high fiscal cost of government support for fossil fuels and low Net ECR highlight the challenges of staying on track with net zero commitments in the face of economic and geopolitical pressures. Reforms should focus on better targeting those most in need and phasing out inefficient support for fossil fuels as soon as possible to enable the release of much-needed resources for the net zero transition and help accelerate innovation for energy efficiency. Given the high costs of inaction, governments should reaffirm and implement their SDG commitment to phase out and reform inefficient support to fossil fuels to align fiscal policy with climate goals."{{Cite report |year=2024 |title=OECD Inventory of Support Measures for Fossil Fuels 2024: Policy Trends up to 2023 |url=https://www.oecd.org/en/topics/fossil-fuel-support.html |access-date= |website=OECD |place=Paris |language=en |doi=10.1787/a2f063fe-en |isbn=978-92-64-40256-0}}{{Rp|page=4}}

Subsidies on consumption reduce the price of energy for end consumers, for example the cost of gasoline for car drivers in Iran. This may win votes at elections and some people in government say it helps poorer citizens.

The consensus among economists is that the rich get most absolute benefit from fossil fuel subsidies,{{Cite web|title=Why are energy subsidy reforms so unpopular?|url=https://blogs.worldbank.org/latinamerica/why-are-energy-subsidy-reforms-so-unpopular|access-date=2022-02-26|website=World Bank|language=en}} for example the poorest people do not usually own cars. But removing the subsidies may hit poor people via indirect price increases such as food prices, so they get a lot of benefit relative to their total income. Producers, such as oil companies, say that increasing taxes on them would cause unemployment and reduce national energy security.{{Cite web|title=Taxes, Energy and the Economy|url=https://www.api.org/news-policy-and-issues/taxes|access-date=2022-02-26|website=www.api.org|language=en}}

Subsidies are estimated to cause hundreds of thousands of deaths from air pollution each year.{{Cite web |title=Still Not Getting Energy Prices Right: A Global and Country Update of Fossil Fuel Subsidies |url=https://www.imf.org/en/Publications/WP/Issues/2021/09/23/Still-Not-Getting-Energy-Prices-Right-A-Global-and-Country-Update-of-Fossil-Fuel-Subsidies-466004 |access-date=2022-02-26 |website=IMF |language=en}}

{{See also|Subsidy#Economic effects}}

Fossil fuel subsidies are a negative carbon price{{Cite web |title=Fossil Fuel Subsidies & Finance |url=https://priceofoil.org/fossil-fuel-subsidies/ |access-date=2022-06-02 |website=Oil Change International |language=en-US}} and use government money that could be spent on other things.{{Cite web|title=Fossil Fuel Subsidies|url=https://www.imf.org/en/Topics/climate-change/energy-subsidies|access-date=2022-02-26|website=IMF|language=en}} The International Monetary Fund says that by encouraging excess energy use they can make countries more vulnerable to variation in international energy prices. However some governments say that the subsidies are necessary to shield citizens from such variation. According to the International Energy Agency (IEA) phasing out fossil fuel subsidies would benefit energy markets, climate change mitigation and government budgets.{{Cite web |title=Energy subsidies – Topics |url=https://www.iea.org/topics/energy-subsidies |access-date=2021-04-15 |website=IEA |language=en-GB}}

{{See also|Environmental impact of the petroleum industry|Health and environmental impact of the coal industry|Environmental impact of electricity generation#Fossil fuels|Externality|Subsidy#Environmental externalities}}

Subsidies affect the environment and removing them would save the carbon budget and help limit climate change.{{Cite web |title=Fossil fuel subsidies reform could limit climate change while tackling global inequalities. Here's how. |url=https://www.undp.org/blog/fossil-fuel-subsidies-reform-could-limit-climate-change-while-tackling-global-inequalities |access-date=2022-02-26 |website=United Nations Development Programme |language=en}}

{{See also|Fossil fuel phase-out#Phase-out of fossil fuel subsidies}}

Many economists recommend replacing consumption subsidies with direct payments targeted at poor people or households.{{Cite web |last1=McCulloch |first1=Neil |last2=Stefanski |first2=Radek |title=Fossil fuel subsidies amount to hundreds of billions of dollars a year – here's how to get rid of them |url=http://theconversation.com/fossil-fuel-subsidies-amount-to-hundreds-of-billions-of-dollars-a-year-heres-how-to-get-rid-of-them-153740 |access-date=2022-02-26 |website=The Conversation |date=11 February 2021 |language=en}}{{Cite web |last=Elgouacem |first=Assia |date=2020-10-23 |title=Designing fossil fuel subsidy reforms in OECD and G20 countries: A robust sequential approach methodology |series=OECD Environment Working Papers |url=https://www.oecd-ilibrary.org/environment/designing-fossil-fuel-subsidies-reforms-in-oecd-and-g20-countries_d888f461-en |language=en |doi=10.1787/d888f461-en|s2cid=242402423 }}{{Cite web |title=3 essential steps towards ending fossil fuel subsidies |url=https://www.weforum.org/agenda/2021/07/3-essential-steps-towards-ending-fossil-fuel-subsidies/ |access-date=2022-02-26 |website=World Economic Forum |language=en}} The best way to use the money saved will likely require country specific studies.{{Cite journal |last1=Harring |first1=Niklas |last2=Jönsson |first2=Erik |last3=Matti |first3=Simon |last4=Mundaca |first4=Gabriela |last5=Jagers |first5=Sverker C. |date=March 2023 |title=Public acceptance of fossil fuel subsidy removal can be reinforced with revenue recycling |journal=Nature Climate Change |language=en |volume=13 |issue=3 |pages=214–215 |doi=10.1038/s41558-023-01609-4 |issn=1758-6798|doi-access=free |bibcode=2023NatCC..13..214H }} However phase-out is politically difficult.

Tax breaks for oil and gas exploration have been in place since at least the early 20th century.{{Cite web |title=Intangible Drilling and Development Costs |url=http://www.ipaa.org/wp-content/uploads/2016/12/2009-03-IntangibleDrillingAndDevelopmentCosts.pdf}}

In 2023, the OECD estimated that coal subsidies amounted to 27.7 billion USD,{{Rp|page=10}} oil to 400 billion USD,{{Rp|page=9}} and gas to 343 billion USD.{{Rp|page=11}}

{{See also|Gasoline and diesel usage and pricing#Countries with subsidised gasoline}}

The International Energy Agency estimates that governments subsidised consumption of fossil fuels by US $1 trillion in 2022. At their meeting in September 2009 the G-20 countries committed to "rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption".{{Cite web | url=http://www.iea.org/media/g20/1_2011_Joint_report_IEA_OPEC_OECD_WorldBank_on_fossil_fuel_and_other_energy_subsidies.pdf | title=Joint report by IEA, OPEC, OECD and World Bank on fossil-fuel and other energy subsidies: An update of the G20 Pittsburgh and Toronto Commitments | page=2 | publisher=International Energy Agency | date=2011 | access-date=2015-04-27 | url-status=live | archive-url=https://web.archive.org/web/20141210181235/http://www.iea.org/media/g20/1_2011_Joint_report_IEA_OPEC_OECD_WorldBank_on_fossil_fuel_and_other_energy_subsidies.pdf | archive-date=2014-12-10 }} Many say that all fossil fuel subsidies are inefficient.{{Cite web |title=The Final Countdown: How Canada can end fossil fuel subsidies this year |url=https://www.iisd.org/articles/insight/final-countdown-canada-fossil-fuel-subsidies |access-date=2023-06-04 |website=International Institute for Sustainable Development |language=en}}

The 2010s saw many other countries reducing energy subsidies, for instance in July 2014 Ghana abolished all diesel and gasoline subsidies, whilst in the same month Egypt raised diesel prices 63% as part of a raft of reforms intended to remove subsidies within 5 years.{{Cite web | url=http://www.iea.org/media/weowebsite/developmentsenergysubsidies.pdf | title=Recent Developments in Energy Subsidies | publisher=International Energy Agency | date=2015 | access-date=2015-04-27 | url-status=live | archive-url=https://web.archive.org/web/20150926184533/http://www.iea.org/media/weowebsite/developmentsenergysubsidies.pdf | archive-date=2015-09-26 }}

In Sept, 2021, the IMF produced a working paper with estimates for the subsidies caused by the gap between the efficient price of fossil fuels and user prices.{{cite news |last1=Carrington |first1=Damian |title=Fossil fuel industry gets subsidies of $11m a minute, IMF finds |url=https://www.theguardian.com/environment/2021/oct/06/fossil-fuel-industry-subsidies-of-11m-dollars-a-minute-imf-finds |access-date=19 October 2021 |work=The Guardian |date=6 October 2021}}{{cite web |last1=Parry |first1=Ian |last2=Black |first2=Simon |last3=Vernon |first3=Nate |title=Still Not Getting Energy Prices Right: A Global and Country Update of Fossil Fuel Subsidies |url=https://www.imf.org/en/Publications/WP/Issues/2021/09/23/Still-Not-Getting-Energy-Prices-Right-A-Global-and-Country-Update-of-Fossil-Fuel-Subsidies-466004 |website=International Monetary Fund |access-date=19 October 2021 |date=24 September 2021}} "Underpricing for local air pollution costs is the largest contributor to global fossil fuel subsidies, accounting for 42 percent, followed by global warming costs (29 percent), other local externalities such as congestion and road accidents (15 percent), explicit subsidies (8 percent) and foregone consumption tax revenue (6 percent)." Globally, fossil fuel subsidies were $5.9 trillion which amounts to 6.8% of GDP in 2020 and are expected to rise to 7.4% in 2025.{{cite web |last1=Parry |first1=Ian |first2=Simon |last2=Black|first3=Nate|last3=Vernon |title=Still Not Getting Energy Prices Right: A Global and Country Update of Fossil Fuel Subsidies |url=https://www.imf.org/en/Publications/WP/Issues/2021/09/23/Still-Not-Getting-Energy-Prices-Right-A-Global-and-Country-Update-of-Fossil-Fuel-Subsidies-466004|date=September 2021 |publisher=IMF |access-date=20 October 2021}}

The table below shows excerpts from a 2021 IMF study for 20 countries with biggest subsidies. It also shows the biggest component of explicit subsidies, electricity costs, and of implicit subsidies, coal. See these references for complete data: (Units are billions of 2021 US dollars.)

{{Update section|date=February 2023|reason=did they eliminate subsidies by 2023 - if not why not?}}

{{Overly detailed|section|date=February 2023}}

The Canadian federal government offers subsidies for fossil fuel exploration and production and Export Development Canada regularly provides financing to oil and gas companies. A 2018 report from the Overseas Development Institute, a UK-based think tank, found that Canada spent a greater proportion of its GDP on fiscal support to oil and gas production in 2015 and 2016 than any other G7 country.{{Cite web|url=https://www.odi.org/sites/odi.org.uk/files/resource-documents/12222.pdf|title=G7 fossil fuel subsidy scorecard|date=June 2018|access-date=28 February 2022|archive-date=6 March 2021|archive-url=https://web.archive.org/web/20210306182408/https://www.odi.org/sites/odi.org.uk/files/resource-documents/12222.pdf|url-status=dead}}

In 2018, in response to low Canadian oil prices, the federal government announced $1.6 billion in financial support for the oil and gas sector: $1 billion in loans to oil and gas exporters from Export Development Canada, $500 million in financing for "higher risk" oil and gas companies from the Business Development Bank of Canada, $50 million through Natural Resources Canada’s Clean Growth Program, and $100 million through Innovation, Science and Economic Development Canada’s Strategic Innovation Fund. Minister of Natural Resources Amarjeet Sohi said that this financing is "not a subsidy for fossil fuels", adding that "These are commercial loans, made available on commercial terms. We have committed to phasing out inefficient fossil fuel subsidies by 2025, and we stand by that commitment".{{Cite web |last1=Meyer |first1=Carl |date=2018-12-18 |title=Sohi announces $1.6 billion to help Alberta oilpatch |url=https://www.nationalobserver.com/2018/12/18/news/sohi-announces-16-billion-help-alberta-oilpatch |access-date=2019-05-19 |website=National Observer |language=en}} Canada has committed to phase out fossil fuel subsidies by 2023.{{Cite web |title=Climate institute proposes new framework for addressing fossil fuel subsidies |url=https://climateinstitute.ca/news/new-framework-for-addressing-fossil-fuel-subsidies/ |access-date=2022-03-01 |website=Canadian Institute for Climate Choices |language=en-US}}

Canadian provincial governments also offer subsidies for the consumption of fossil fuels. For example, Saskatchewan offers a fuel tax exemption for farmers and a sales tax exemption for natural gas used for heating.{{Cite web|url=https://www.iisd.org/library/meeting-canadas-subsidy-phase-out-goal-what-it-means-saskatchewan|title=Meeting Canada's Subsidy Phase-Out Goal: What it means in Saskatchewan|date=2016-08-29|website=IISD|language=en|access-date=2019-05-19}}

A 2018 report from the Overseas Development Institute was critical of Canada's reporting and transparency practices around its fossil fuel subsidies. Canada does not publish specific reports on its fiscal support for fossil fuels, and when Canada’s Office of the Auditor-General attempted an audit of Canadian fossil fuel subsidies in 2017, they found much of the data they needed was not provided by Finance Canada. Export Development Canada reports on their transactions related to fossil fuel projects, but do not provide data on exact amounts or the stage of project development.{{cite web|url=http://www.odi.org.uk/subsidies-change-the-game |title=Time to change the game: Fossil fuel subsidies and climate |last=Whitley |first=Shelagh |publisher=Overseas Development Institute |access-date=3 January 2014 |url-status=dead |archive-url=https://web.archive.org/web/20140103192458/http://www.odi.org.uk/subsidies-change-the-game |archive-date=3 January 2014 }}

{{Expand section|date=February 2023}}

The energy policy of China says that energy security{{Cite web |date=2022-02-24 |title=China Briefing, 24 February 2022: New economics measures; Assessing China's climate pledges; Coal plant research |url=https://www.carbonbrief.org/china-briefing-24-february-2022-new-economics-measures-assessing-chinas-climate-pledges-coal-plant-research |access-date=2022-02-27 |website=Carbon Brief |language=en}} requires subsidy of production and consumption of fossil fuels including coal, oil and natural gas.{{Cite web |title=China {{!}} GSI |url=https://www.iisd.org/gsi/faqs/china |access-date=2022-02-27 |website=www.iisd.org}}{{Cite web |title=Asia-Pacific Must Phase Out Fossil-Fuel Subsidies |url=https://www.brinknews.com/asia-pacific-must-phase-out-fossil-fuel-subsidies/ |access-date=2022-02-27 |website=Brink |language=en-US}}

{{Expand section|date=February 2023}}

In financial year 2021 fossil fuel subsidies have been estimated at 9 times renewable energy subsidies: with INR 55,250 crore for oil and gas and INR 12,976 crore for coal.{{Cite web |title=Mapping India's Energy Policy 2022 |url=https://www.iisd.org/publications/mapping-india-energy-policy-2022 |access-date=2022-06-02 |website=International Institute for Sustainable Development |language=en}}

{{See also|Economy of Iran||Energy in Iran|2007 Gasoline Rationing Plan in Iran#Fuel smuggling}}

Contrary to the subsidy reform plan's objectives, under President Rouhani the volume of Iranian subsidies given to its citizens on fossil fuel increased 42% in 2019 to over 15% of Iran’s GDP and 16% of total global energy subsidies. This has made Iran the world's largest subsidizer of energy prices.{{Cite web|url=https://financialtribune.com/articles/domestic-economy/98959/iran-largest-fuel-subsidizer-in-2018|title=Iran: Largest Fuel Subsidizer in 2018|date=July 16, 2019|website=Financial Tribune}} This situation is leading to highly wasteful consumption patterns, large budget deficits, price distortions in its entire economy, pollution and very lucrative (multi-billion dollars) contraband (because of price differentials) with neighbouring countries each year by rogue elements within the Iranian government supporting the status-quo.{{Cite web|url=https://www.tehrantimes.com/news/433706/Blind-subsidy-system-costing-economy-greatly|title=Blind subsidy system costing economy greatly|date=March 5, 2019}}{{Cite web|url=https://en.radiofarda.com/a/iran-fuel-gasoline-smuggling-sanctions/29783028.html|title = Why Fuel is Smuggled Out of Iran and Why No One Stops It| date=21 February 2019 }}

Libya had the highest subsidy by percent GDP in 2020 at 17.5%.{{Cite web |title=Value of fossil-fuel subsidies by fuel in the top 25 countries, 2020 – Charts – Data & Statistics |url=https://www.iea.org/data-and-statistics/charts/value-of-fossil-fuel-subsidies-by-fuel-in-the-top-25-countries-2020 |access-date=2022-02-27 |website=IEA |language=en-GB}}

{{See also|Energy policy of Russia}}

Russia holds the world’s largest natural gas reserves (27% of total), the second-largest coal reserves, and the eighth-largest oil reserves.{{Cite journal |last1=Grant |first1=Dansie |last2=Lanteigne |first2=Marc |author-link2=Marc Lanteigne |last3=Overland |first3=Indra |date=2010-02-01 |title=Reducing Energy Subsidies in China, India and Russia: Dilemmas for Decision Makers |url=https://www.researchgate.net/publication/41667826 |url-status=live |journal=Sustainability |volume=2 |issue=2 |pages=475–493 |doi=10.3390/su2020475 |archive-url=https://web.archive.org/web/20180411174211/https://www.researchgate.net/publication/41667826 |archive-date=2018-04-11 |doi-access=free|hdl=10037/11504 |hdl-access=free }} Russia is the world's third-largest energy subsidizer as of 2015.{{Cite web|url=http://www.worldenergyoutlook.org/resources/energysubsidies/|title=WEO - Energy Subsidies|website=worldenergyoutlook.org|access-date=2017-08-06|url-status=live|archive-url=https://web.archive.org/web/20170815124551/http://www.worldenergyoutlook.org/resources/energysubsidies/|archive-date=2017-08-15}} The country subsidizes electricity and natural gas as well as oil extraction. Approximately 60% of the subsidies go to natural gas, with the remainder spent on electricity (including under-pricing of gas delivered to power stations). For oil extraction the government gives tax exemptions and duty reductions amounting to about 22 billion dollars a year. Some of the tax exemptions and duty reductions also apply to natural gas extraction, though the majority is allocated for oil.{{Cite journal|last=Ogarenko|first=Luliia|date=November 2015|title=G20 subsidies to oil, gas and coal production: Russia|url=https://www.odi.org/sites/odi.org.uk/files/odi-assets/publications-opinion-files/9969.pdf|journal=IISD|url-status=live|archive-url=https://web.archive.org/web/20170511182521/https://www.odi.org/sites/odi.org.uk/files/odi-assets/publications-opinion-files/9969.pdf|archive-date=2017-05-11}} The large subsidies of Russia are costly and it is recommended in order to help the economy that Russia lowers its domestic subsidies.{{Cite web|url=https://www.iea.org/newsroom/news/2014/june/iea-releases-review-of-russian-energy-policies.html|title=June: IEA releases review of Russian energy policies|website=iea.org|access-date=2017-08-06|url-status=live|archive-url=https://web.archive.org/web/20170321073224/http://www.iea.org/newsroom/news/2014/june/iea-releases-review-of-russian-energy-policies.html|archive-date=2017-03-21}} However, the potential elimination of energy subsidies in Russia carries the risk of social unrest that makes Russian authorities reluctant to remove them.Indra Overland (2010) ‘Subsidies for Fossil Fuels and Climate Change: A Comparative Perspective’, International Journal of Environmental Studies, Vol. 67, No. 3, pp. 203-217.

{{cite web |url=https://www.researchgate.net/publication/240515305 |title=Subsidies for fossil fuels and climate change: A comparative perspective |access-date=2018-02-11 |url-status=live |archive-url=https://web.archive.org/web/20180212083157/https://www.researchgate.net/publication/240515305 |archive-date=2018-02-12 }}

Most energy subsidies in Saudi Arabia are implicit in nature. This is due to the fact domestic oil prices are generally below global market prices but above domestic production costs, leading to forgone revenue but not direct subsidy costs. Contrary to the estimates above, a recent paper posits that the incremental electricity subsidy in Saudi Arabia has been eliminated as a result of the 2018 domestic energy price reforms.{{cite journal |last1=KAPSARC |title=Revisiting Energy Subsidy Calculations: A Focus on Saudi Arabia |journal=The Energy Journal |year=2023 |volume=44 |issue=1 |pages=245–276 |doi=10.5547/01956574.44.1.agas |s2cid=247994294 |url=https://www.iaee.org/en/publications/ejarticle.aspx?id=3936|doi-access=free }}{{Page needed|date=November 2022}}

{{excerpt|Energy in Turkey#Fossil fuel subsidies and taxes}}

2020 subsidy has been estimated at 7% of GDP.{{Cite web |title=Energy subsidies |url=https://www.iea.org/topics/energy-subsidies |access-date=2022-02-26 |website=International Energy Agency |language=en-GB}} In 2021 the subsidized and rationed gasoline price was around 25 US cents a litre,{{Cite news |title=Venezuela Raises Gas Prices by 20-fold to 10 Cents a Gallon |url=https://www.bloomberg.com/news/articles/2021-10-23/venezuela-raises-gas-prices-by-20-fold-to-10-cents-a-gallon |access-date=2022-02-28 |newspaper=Bloomberg|date=23 October 2021 }}{{Cite news |last=Milke |first=Mark |last2=Kaplan |first2=Lennie |date=2021-07-22 |title=Opinion: There is no fossil-fuel subsidy pot of gold |language=en |work=Financial Post |url=https://financialpost.com/opinion/opinion-there-is-no-fossil-fuel-subsidy-pot-of-gold |access-date=2022-02-28}} half of the unsubsidized price.{{Cite news |last=Buitrago |first=Deisy |date=2021-10-23 |title=Venezuela to increase subsidized gasoline price |language=en |work=Reuters |url=https://www.reuters.com/business/energy/venezuela-increase-subsidized-gasoline-price-2021-10-23/ |access-date=2022-02-28}}

• Electric vehicle conversion
• Fossil fuel divestment
• Phase-out of fossil fuel vehicles

{{Reflist}}

• {{Cite book |last=McCulloch |first=Neil |url=https://practicalactionpublishing.com/book/2642/ending-fossil-fuel-subsidies |title=Ending Fossil Fuel Subsidies |date=2023-01-14 |publisher= Practical Action Publishing|isbn=978-1-78853-204-4}}
• {{Cite book |url=https://caneurope.org/content/uploads/2023/03/Fossil-Fuels-Subsidies-Report.pdf |title=How to stop the never-ending nightmare FOSSIL FUEL SUBSIDIES IN THE EU |publisher=CAN EUROPE |year=2023 |language=en}}

• [https://www.oecd.org/fossil-fuels/ Fossil fuels] OECD
• [https://data.undp.org/fossil-fuel/ Fossil Fuel Subsidy Reform] {{Webarchive|url=https://web.archive.org/web/20230731122134/https://data.undp.org/fossil-fuel/ |date=31 July 2023 }} United Nations Development Programme
• [https://fossilfuelsubsidytracker.org/ Fossil fuel subsidy tracker] International Institute for Sustainable Development

Category:Subsidies

Category:Fossil fuels