Fossil fuel subsidies
are increasingly prominent on the international agenda because their scale is staggering and they grow with increases in the price of oil.
In 2012, the statewide environmental organization's report showed annual fossil fuel subsidies
in Pennsylvania to be $2.
More than 200 people were killed in the protests that erupted across Sudan following government decision to scale back fuel subsidies
The IMF applauded the decisions to reduce fuel subsidies
and implement a GST.
And Rajiv Biswas, Asia Pacific chief economist at global consultancy IHS, warned if they fail to move, leaders "will miss the window of opportunity and face public resistance to removal of fuel subsidies
if oil prices strengthen significantly in future years".
The recent action taken by the UAE to eliminate fuel subsidies
with effect from 1 August 2015 ignited the debate on tax reform in the Gulf Cooperation Council (GCC) countries.
The transparency necessary to track costs, and the poten- tially unintended consequences that accompany fuel subsidies
should also be considerations.
Muscat: Beginning next year, Oman will gradually cut fuel subsidies
amid a slump in oil prices, Gulf News has learned.
He added "With oil prices hovering around $40-per-barrel, the timing for a removal of the fuel subsidies
seems appropriate as it would most likely minimise the impact felt by households.
Rising oil prices has slowed demand with Asian countries cutting fuel subsidies
while car drivers globally start to drive less and buy smaller, more fuel efficient vehicles.
WASHINGTON, November 8, 2010 /PRNewswire/ -- As G20 leaders prepare to meet later this week in South Korea, two NGOs have released the first independent evaluation of the success of the G20 Pledge to phase out fossil fuel subsidies
G20 leaders committed in Pittsburgh in 2009 to phase out, over the medium-term, inefficient fossil fuel subsidies
which encourage wasteful consumption.
Phasing out fossil fuel subsidies
could be a low-cost option to meet the emissions reduction targets announced after last year's United Nations climate conference, according to an analysis by the Organization for Economic Cooperation and Development.
or NNPC, said Tuesday, just as the country's central bank warned on the continued costs of fuel subsidies
First, fuel subsidies
distort the relative prices of goods and services and prices no longer serve the purpose of efficient allocation of resources.