IEA analysis of fossil-fuel subsidies for APEC

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Methodology for modelingfossil-fuel and CO 2 savings• Calculate initial subsidisation rate (by fuel/use)• Choose time period over which to model subsidy phase-out• Decrease the subsidisation rate over the chosen period, raisingend-use prices• Fuel savings are linked to pace of change in end-use prices andthe elasticity of demand• CO 2 savings are calculated by applying emissions factors to fuelsavings© OECD/IEA 2011
Billion dollarsDollars per barrelFossil-fuel consumption subsidies remain bigWorld subsidies to fossil-fuel consumption using the price-gap approach600150Rest of world500400300200100125100755025APECeconomiesIEA averagecrude oilimport price(right axis)02007 2008 2009 20100Worldwide, fossil-fuel consumption subsidies totaled $409 billion in 2010 – about $100 billionhigher than in 2009; among APEC economies, we estimate they reached $105 billion© OECD/IEA 2011
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IEA analysis of fossil-fuel subsidies for APEC

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