The IMF’s Outlandish Claims About Energy Subsidies
The IMF uses legitimate economic concepts and yet somehow transforms them into calls for giant tax increases
By Institute for Energy Research —— Bio and Archives--April 3, 2013
Global Warming-Energy-Environment | Comments | Back To Full Article
Last week the IMF released a report that called on governments around the world to stop subsidizing energy. Initially we were shocked—as proponents of letting the market determine the allocation of resources, we at IER have opposed all energy subsidies for years. Of course, it turns out that the IMF is really calling for the government to subsidize energy forms that don’t currently pass the market test, and to tax the daylights out of those that do. What’s more, even taking the standard “social cost of carbon” framework at face value, the IMF’s proposed tax hikes are far higher than can be economically justified.
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