Sunday, March 31, 2013

Subsidizing fossil fuels cost 1.9 trillion dollars

A report by the IMF, countries in the world economy, energy assistance spending was announced that a cost of $ 1.9 trillion.

International Monetary Fund (IMF), issued the report states the cost of the global economy, energy expenditure, and what should be done to reduce this cost, he said.

According to the report analyzed a total of 176 countries and global states is 1.9 trillion dollars a energy subsidy.

fossil fuel consumption subsidies by country

Report pointed out that there has been encouraging the private sector, the private sector should be encouraged to balancing the states argue that energy costs.
'Aid brings cutting energy efficiency'

Go to cut energy assistance to individuals in the States have to perform more efficient use of energy  attention.

Efficient energy consumption decreased by 13 per cent of expenditures to help states provide said.

IMF Chief Financial Officer Carlo Cottarelli energy is very large and is harmful to language assistance while maintaining the highest level of energy consumption of public resources by increasing public spending underscores are finished.

gasoline taxes by country

The report states that a lot of advanced energy expenditure instead of completely cutting taxes should increase the country's energy, he says.

US's largest energy expenditures of 502 billion dollars while in first place on the list followed by the United States, China and Russia.

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