I think one of the biggest problems to me is mostly about fossil fuel. Most regions, particularly developing countries are experiencing significant energy demand growth which puts pressure on global fossil fuel consumption. There are growing difference in distribution of wealth within many countries and also growing middle-class in the advanced developing nations like China and India. Growth in energy and decrease of conventional reserves of fossil fuels will increase in prices. Fossil fuels are the cheapest forms of energy in developing nations, especially in regions where large populations that do not even have access to electricity. Economic growth is driven mostly by fossil fuels.
- Fossil-fuel consumption subsidies, $312 billion in 2009 for 25 countries, are distorting price signals.
- Many of these countries were developing economies.