IEA urges G20 to end fossil-fuel subsidies

The International Energy Agency wants to wean the world off fossil-fuel subsidies that it says artificially inflate global energy demand. The agency is urging Group of 20 nations to slash their estimated $312-billion (U.S.) in annual support.

G20 leaders, who will be meeting in South Korea this week, have committed in the past to phase out subsidies, but governments find it difficult to meet that pledge when it results in higher fuel prices or reduced economic activity.

IEA urges G20 to end fossil-fuel subsidies - The Globe and Mail