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Inventory of Estimated Budgetary Support and Tax Expenditures for Fossil Fuels

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The Organisation for Economic Co-operation and Development (OECD) has undertaken its first-ever effort to inventory the fossil fuel related producer and consumer subsidies in 24 industrialized countries. The report finds that from 2005 to 2010 the overall value of more than 250 support measures in these countries was $45 billion USD to $75 billion USD per year. The report also finds that a significant portion of the support was in the form of tax policies and that nearly half of this amount went to supporting production or consumption of petroleum products.