Beware kerosene subsidies: An obstacle to energy efficiency and development

Publication Type

Web Article

Last Update Date

07/2017

Authors

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.

Series Title

European Council for an Energy Efficient Economy Columns

Year of Publication

2017

Description

Published on 4 July 2017

Publisher

European Council for an Energy Efficient Economy