Fossil fuel subsidies remain a major obstacle to combating climate change, as they contribute to the continued use and low-cost accessibility of greenhouse gas-emitting energy sources.
Governments use subsidies not just for economic support, but also to maintain political alliances and provide necessary backing for industries, complicating efforts to eliminate fossil fuel incentives.
The complexity and visibility of subsidies vary; while some are clear like crop insurance, others are subtle, such as tariffs that indirectly benefit domestic sectors.
The political landscape can shape subsidy allocations, with specific policies like the 2022 Inflation Reduction Act balancing support for both renewable and fossil fuel energy to gain necessary political backing.
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