IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil
Green Car Congress
NOVEMBER 13, 2011
Subsidies that encourage wasteful consumption of fossil fuels jumped to over $400 billion. By contrast, subsidies for fossil fuels amounted to $409 billion in 2010. Short-term pressures on oil markets are easing with the economic slowdown and the expected return of Libyan supply.
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