According to the World Energy Outlook (click HERE) published by the International Energy Association, global fossil-fuel consumption subsidies amounted to approximately $550 billion in 2013, a staggering sum larger than the economies of Norway, Nigeria, or Taiwan and equating to approximately 0.75% of global GDP.
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The Energy Subsidy Bubble
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According to the World Energy Outlook (click HERE) published by the International Energy Association, global fossil-fuel consumption subsidies amounted to approximately $550 billion in 2013, a staggering sum larger than the economies of Norway, Nigeria, or Taiwan and equating to approximately 0.75% of global GDP.