The IEA estimates that subsidies that artificially lower the cost of fossil fuels – and also impede development of renewables – hit $409 billion in 2010, an increase of nearly $110 billion over 2009 levels. The IEA says that the amount of total worldwide subsidies (assisting with production and consumption) on fossil fuels in 2010 will reach half a trillion dollars. What's even worse is that the IEA predicts that fossil fuel subsidies will soar to $660 billion in 2020.
Oil Subsidies Rise
I'm quite ready to end EV subsidies when the oil and gas industries do the same.