Beware kerosene subsidies: An obstacle to energy efficiency and development

Beware kerosene subsidies: An obstacle to energy efficiency and development

TitleBeware kerosene subsidies: An obstacle to energy efficiency and development
Publication TypeWeb Article
Year of Publication2017
AuthorsEvan Mills
Series TitleEuropean Council for an Energy Efficient Economy Columns
DescriptionPublished on 4 July 2017
Last Update Date07/2017
PublisherEuropean Council for an Energy Efficient Economy
Abstract

The International Monetary Fund estimates that global energy subsidies topped $5 trillion in 2015, or a whopping 6.5% of GDP. This represents an immense amount of money trimmed off the true price of energy and financed, instead, in a cloaked way through other parts of the economy. We all still pay for this energy, but through general taxes that governments must collect in order to finance their support to energy providers, and through externalities such as health costs and roadway congestion caused by energy use.

URLhttps://www.eceee.org/all-news/columns/beware-kerosene-subsidies-an-obstacle-to-energy-efficiency-and-development/