Developing Countries Subsidize Fossil Fuel Use, Artificially Lower Prices
Carbon dioxide, carbon emissions, fossil fuel, subsidies, world
By Institute for Energy Research —— Bio and Archives--December 23, 2013
Global Warming-Energy-Environment | Comments | Back To Full Article
The International Energy Agency (IEA) annually estimates global fossil-fuel consumption subsidies that measure what many developing countries spend to provide below-market cost fuel to their citizens. In 2012, IEA found that fossil fuel consumption subsidies totaled $544 billion, 4 percent higher than the 2011 total of $523 billion.(i) This increase is due to moderately higher international energy prices and increased consumption. Oil subsidies make up over half of the total fossil fuel consumption subsidies, while electricity makes up 25 percent, natural gas 23 percent and coal 1 percent. According to the IEA, the United States does not have any consumption subsidies for oil, coal, or natural gas.
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