Cutting governmental subsidies for fossil energy could lead to a 10 percent reduction in greenhouse gas emissions by 2050 as compared to 1990 levels, says a recent study by the Organisation for Economic Cooperation and Development. Fatih Birol, IEA chief economist, speaking at COP15 side event, argued that subsidies for fossil energy do not actually benefit the poor, but the middle classes, so there is no reason to worry about negative impacts on the poor if subsidies are scrapped.