Document summary
Following DB's February report Crude Oil: Iceberg Glimpsed Off West Africa and the recent publication of IEA's World Energy Outlook, this report analyses again the distortionary impact of subsidies on fossil fuels and how this will continue to drive up demand in oil-producing and exporting countries, thereby further pushing oil prices in real terms over the next decade. In this report, the author highlights how fossil fuel prices are likely to continue to rise while the cost of renewable energy should continue to fall over time.