Global fossil-fuel subsidies could exceed $1 trillion in 2026 as governments struggle to shield consumers from surging energy and food prices, according to the UNDP. Subsidies, tax cuts and price caps are draining public finances, especially in developing economies. With oil near $100 a barrel and shipping disruptions spreading, governments face increasingly painful choices over how to protect vulnerable households.
Personal Remarks
I’m a strong believer in crude oil but I’m not in favour of subsidies. Free market should be king.