Governments Spent Over €900 Billion On Subsidies For Fossil Fuels

Credit: Dan Meyers/Unsplash

The greatest amount ever recorded was more than €900 billion paid by governments on fossil fuel subsidies in 2022, as reported by Euro News.

Disruption in gas exports

The staggering amount is more than double the number for 2021, according to a recent analysis by the International Energy Agency (IEA).

The staggering number is related to Russia’s incursion into Ukraine.

Energy costs skyrocketed as a result of the war and the disruption to Russian fossil gas exports that...