If the price of fossil fuels reflected their actual cost, carbon emissions would drop by 43 percent by 2030, and 1.6 million people yearly would be spared an early death from air pollution, the analysis found.
An analysis of policies in 170 countries found that explicit subsidies, such as price caps on fuel, accounted for 18 percent of this total. With Russia’s war on Ukraine roiling energy markets, many governments have placed limits on the price of fossil fuels, giving money back to consumers when prices exceeded those limits.
Global Fossil Fuel Subsidies Reached 7,000,000,000,000 $$$$$ – 7 Trillion in 2022
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