Fatih Birol Quotes
Energy markets can be thought of as suffering from appendicitis due to fossil fuel subsidies. They need to be removed for a healthy energy economy.
Energy is significantly underpriced in many parts of the world, leading to wasteful consumption, price volatility and fuel smuggling. It's also undermining the competitiveness of renewables.
Just 8% of the $409bn spent on fossil-fuel subsidies in 2010 went to the poorest 20% of the population.