Energy Shift
Charted: $5 Trillion in Fossil Fuel Subsidies
Charted: $5 Trillion in Fossil Fuel Subsidies (2010-2021)
With energy consumption vital for life and business, governments often look to fossil fuel subsidies to make energy as affordable as possible.
These subsidies artificially reduce the price of fossil fuels and generally take two forms:
- Production subsidies occur when governments provide tax cuts or direct payments that reduce the cost of producing coal, oil, or gas.
- Consumption subsidies cut fuel prices for the end-user through price controls and other such measures.
Each year, governments around the world pour nearly half a trillion dollars into fossil fuel subsidies. This chart breaks down a decade of fossil fuel consumption subsidies by energy source using data from the International Energy Agency (IEA).
Breaking Down Fossil Fuel Consumption Subsidies
Since 2010, governments have spent over $5 trillion in fossil fuel consumption subsidies. The majority of this sum went towards making oil more affordable, as seen below:
| Subsidies by Year (US$) | Oil | Electricity | Natural Gas | Coal | Total |
|---|---|---|---|---|---|
| 2010 | $203.0B | $143.5B | $113.6B | $2.7B | $462.9B |
| 2011 | $263.7B | $147.2B | $100.4B | $3.6B | $514.0B |
| 2012 | $304.0B | $149.9B | $132.2B | $3.3B | $589.5B |
| 2013 | $300.0B | $132.8B | $119.1B | $1.7B | $553.6B |
| 2014 | $262.4B | $124.1B | $104.2B | $1.1B | $491.9B |
| 2015 | $147.3B | $119.2B | $83.6B | $1.5B | $351.5B |
| 2016 | $110.2B | $132.8B | $56.7B | $2.2B | $301.9B |
| 2017 | $153.5B | $136.2B | $65.2B | $2.7B | $357.6B |
| 2018 | $195.3B | $167.4B | $106.0B | $3.0B | $471.7B |
| 2019 | $134.2B | $124.8B | $51.0B | $2.2B | $312.2B |
| 2020 | $90.4B | $52.5B | $36.9B | $1.7B | $181.5B |
| Total | $2,164.0B | $1,430.4B | $968.9B | $25.7B | $4,588.3B |
Fossil fuel subsidies fell to a decade low in 2020 as the pandemic hampered fuel consumption and triggered a nosedive in oil prices. However, after two years of straight declines, the IEA estimates that governments around the world spent $440 billion on subsidizing fossil fuel consumption over 2021, representing a 142% rise year-over-year.
Breaking down the subsidies by fuel, oil accounts for 43% or over $2 trillion of all subsidies between 2010 and 2020. Together, oil and electricity generated by fossil fuels received nearly 75% of all subsidies.
Despite growing support for the clean energy transition, the fossil fuel industry reaps the benefits of billions in subsidies annually—but why?
Why Do Governments Subsidize Fossil Fuels?
High energy prices can have rippling effects throughout an economy.
For consumers, heating and transportation become more expensive. And for producers who use energy and oil as inputs, the cost of goods and services goes up.
Often, governments turn to energy subsidies to keep prices down and encourage economic activity. Therefore, there’s a high cost to removing these subsidies, especially in developing countries where large parts of the population might lack access to affordable energy.
But fossil fuel subsidies can also have detrimental effects. By artificially lowering prices, they can encourage overconsumption of carbon-intense fuels, creating negative externalities through adverse environmental and health impacts. According to the International Renewable Energy Agency, these add up to an amount anywhere between $2.6 to $8.1 trillion globally.
Despite these disadvantages, fossil fuels remain an important part of the global energy mix, with continued support from governments. And with energy prices soaring, 2022 could be another year of billions in fossil fuel subsidies.
Energy Shift
Charted: Coal Still Dominates Global Electricity Generation
Fossil fuels account for nearly 60% of power generation.
Charted: Coal Still Dominates Global Electricity Generation
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
- Fossil fuels made up nearly 60% of 2024 electricity generation.
- Coal accounts for 35% of total power generation.
Fossil Fuels Still Power Most of the World
Global energy demand grew faster than average in 2024, driven by rising electricity use across sectors. The power sector led the surge, with demand growing nearly twice as fast as overall energy use—fueled by increased cooling needs, industrial activity, transport electrification, and the expansion of data centers and AI.
Despite a growing push toward cleaner energy sources, coal remains the leading source of electricity generation worldwide. In 2024, fossil fuels accounted for nearly 60% of global power generation, with coal alone contributing 35%, according to the International Energy Agency.
While renewable energy continues to expand, making up about one-third of total electricity production, the global energy mix still leans heavily on traditional sources.
| Country | Coal | Natural Gas | Oil | Renewables | Nuclear |
|---|---|---|---|---|---|
| 🇮🇳 India | 73.4% | 3.3% | 0.2% | 20.5% | 2.6% |
| 🇨🇳 China | 58.4% | 3.2% | 0.1% | 33.9% | 4.4% |
| 🇺🇸 U.S. | 15.6% | 42.6% | 0.7% | 23.3% | 17.9% |
| 🇪🇺 EU | 10.7% | 15.6% | 1.5% | 48.7% | 23.6% |
| 🌍 Global | 34.5% | 21.8% | 2.4% | 32.1% | 9.1% |
In emerging markets and developing economies, coal continues to be the backbone of power systems. China, the world’s largest energy consumer, generated nearly 60% of its electricity from coal. In India, coal’s dominance is even more pronounced, providing close to three-quarters of all electricity produced.
In contrast, advanced economies are increasingly relying on cleaner sources. In 2024, the European Union made significant strides in renewable energy adoption—nearly half of its electricity came from renewables, far exceeding the global average.
In the United States, natural gas led the power mix, accounting for over 40% of electricity generation in 2024. President Trump’s pro-coal policies and the surge in energy demand from AI innovation are expected to boost coal production in the U.S. over the next few years.
Learn More on the Voronoi App 
If you enjoyed this topic, check out this graphic that shows how 36 companies are responsible for half of the fossil fuel and cement CO2 emissions.
Energy Shift
How the Largest Importers of Russian Fossil Fuels Have Changed (2022 vs. 2025)
Despite sanctions against Moscow, the EU remains a key consumer of Russian fossil fuels.
How the Largest Importers of Russian Fossil Fuels Have Changed (2022 vs. 2025)
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Since the war in Ukraine began on February 24, 2022, Russia has earned $915 billion from fossil fuel exports, with EU countries accounting for over $223 billion.
Despite sanctions against Moscow, the EU remains a key consumer of Russian fossil fuels.
This graphic highlights the largest importers of Russian fossil fuels, based on the daily flow of oil and gas, using data from the CREA Fossil Fuel Tracker as of March 2025.
China Becomes the Biggest Buyer
In June 2022, China overtook the EU as the largest importer of Russian fossil fuels. Today, China imports nearly six times more than the EU. India and Turkey have also emerged as major buyers.
| Country | 2022-01-14 (tonnes) | 2025-03-13 (tonnes) |
|---|---|---|
| 🇨🇳 China | 435,025 | 607,288 |
| 🇪🇺 EU | 928,998 | 104,646 |
| 🌍 Others | 244,945 | 275,747 |
| 🇮🇳 India | 28,907 | 344,848 |
| 🇹🇷 Turkey | 138,860 | 239,662 |
| 🇰🇷 South Korea | 93,267 | 30,255 |
| 🇺🇸 United States | 33,468 | 0 |
| 🇬🇧 UK | 49,062 | 0 |
Meanwhile, imports from the U.S. and UK, which were relatively small before the invasion, have dropped to zero.
EU Reliance on Russian Fuel
A report released by Ember estimates that European purchases of Russian gas amounted to €21.9 billion ($23.6 billion) in 2024.
Additionally, data collected by Kpler and analyzed by POLITICO Europe revealed that in the first 15 days of 2025, the 27 EU countries imported a record-high 837,300 metric tons of liquefied natural gas (LNG) from Russia. This has raised concerns that billions of dollars could be fueling Moscow’s war in Ukraine.
Russia’s Position in Global Oil Production
Russia remains one of the world’s top oil producers, frequently competing with Saudi Arabia for the second spot behind the United States.
Following the fall of the Soviet Union, Russia’s oil industry was privatized, but in 2021, the state forced a consolidation and restructuring of the sector. Today, Gazprom, Rosneft, and Lukoil are Russia’s leading oil and gas producers.
Learn More on the Voronoi AppÂ
If you enjoyed this topic, check out this graphic that shows Ukraine’s mineral resources.
-
Electrification2 years agoThe Six Major Types of Lithium-ion Batteries: A Visual Comparison
-
Real Assets2 years agoWhich Countries Have the Lowest Inflation?
-
Misc3 years agoHow Is Aluminum Made?
-
Electrification3 years agoThe World’s Top 10 Lithium Mining Companies
-
Real Assets1 year ago200 Years of Global Gold Production, by Country
-
Electrification2 years agoLife Cycle Emissions: EVs vs. Combustion Engine Vehicles
-
Misc2 years agoMapped: U.S. Mineral Production Value by State in 2022
-
Energy Shift2 years agoMapped: Biggest Sources of Electricity by State and Province