On a worldwide basis, fossil-fuel subsidies totaled $312 billion in 2009, over five times the amount available to renewable energy, according to the International Energy Agency (IEA). The study found oil and gas were the most heavily subsidized fuels, attracting $126 billion and $85 billion respectively. The IEA said the phasing out of fossil fuel subsidies would “represent an integral building block for tackling climate change”. Read more about the IEA Study.