Tag Archive | nongovernmental organizations

“Phasing Out Fossil Fuel Subsidies”

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http://vitalsigns.worldwatch.org/vs-trend/phasing-out-fossil-fuel-subsidies

Efforts to quantify global support for fossil fuels by the International Energy Agency (IEA), the Organisation for Economic Co-operation and Development (OECD), the International Monetary Fund (IMF), and a variety of nongovernmental organizations have generated a wide range of estimates. The amounts identified range from $523 billion to over $1.9 trillion, depending on the calculation and what measures are included. What is clear is that the level of support has rebounded to 2008 levels following a dip in 2009–10 during the global financial crisis.

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Would the economic recovery have been as strong without subsidized energy prices? If economic growth is dependent on subsidized energy this seems unsustainable in the long-term.

Have the people who benefited from these subsidized energy prices paid their fair share of the taxes that funded these subsidies?