The forecasted support for fossil fuels in the US shows a consistent decline from 2024 to 2028, starting at 4.06 billion USD in 2024 and falling to 1.75 billion USD by 2028. In 2023, support stood above the 4 billion USD mark, indicating a significant policy shift towards reducing subsidies for fossil fuels. The year-on-year reductions average around 15%, highlighting a robust drop in support each year. The compound annual growth rate over the forecasted period is negative, showcasing continued strategic divestment from fossil fuels.
Future trends to watch include the transition to renewable energy sources and the potential for policy changes that could further influence support levels. Additionally, monitoring technological advancements in clean energy and shifts in public opinion towards sustainability will be crucial, as they may accelerate or decelerate this trend.
