Global fossil fuel consumption began rising steadily from 1965 and continued to increase as of 2024. Electricity generation from these fuels was thought to have peaked in 2022 but actual figures show it is still growing.
Professor Sir Andy Haines estimates that 3.5 million premature deaths occur annually due to air pollution caused by burning fossil fuels. These deaths stem directly from heating, cooking, or vehicle exhaust sources accounting for 65% of all such premature deaths.
Fossil fuel subsidies totaled US$320 billion in consumption alone during 2019 while reaching $5.2 trillion in 2017 when including unpriced greenhouse gas emissions. This 2017 figure represented 6.4% of global GDP with governments subsidizing about $500 billion per year under standard definitions.
The United Kingdom has set a legal deadline to stop selling new internal combustion engine vehicles by 2035 while Norway aims for this same milestone by 2025. Many transit authorities are also working to purchase only electric buses and restrict combustion engines in city centers.
Former fossil fuel exporters are expected to lose power while positions of former importers and countries rich in renewable energy resources will strengthen significantly. Almost three-quarters of the global population live in countries that are net importers of fossil fuels making energy independence a primary reason for transitioning.