Despite an agreement at the G20 in 2009 to eliminate fossil fuel subsidies, the US, China and Russia alone spent US$909 billion (£656 billion) on them in 2017, the most recent year available – that’s nearly 40% more than in 2009. Neil McCulloch, Associate Fellow of Political Economy at the Institute of Development Studies and … Continue reading Energy transition? Many countries still actively subsidise fossil fuel extraction and use
G20 governments are still spending more than half a trillion USD on oil, gas, and coal each year—and the pandemic has likely undone any progress on phasing out this support. In Doubling Back and Doubling Down: G20 Scorecard on Fossil Fuel Funding, researchers considered recovery commitments and pre-pandemic policies to rank G20 countries' progress in … Continue reading New IISD report: G20 backtracks on fossil fuel funding phase-out
If the energy transition is to be effective, support for fossil fuels will need to decrease but Jocelyn Timperley writes on the energymix website that such is not the case so far. Fossil Fuel Subsidies Hit (At Least) $373 Billion in 2015, OECD Reports Countries burned through at least US$373 to $473 billion in … Continue reading New OECD report on inventory of support measures for fossil fuels reveals extent of subsidies
Recent analysis shows that there has been an important shift in subsidies towards sustainable energy in the past decade. Michael Viney explains in an article in the Irish Times. What is the experience in your country? Dramatic shift in environment subsidies towards renewable energy There has been a dramatic shift in environmental subsidies in … Continue reading How sustainable energy subsidies are evolving in Ireland
With the recent dramatic fall in the price of oil, the issue of fuel subsidies comes to the fore again. Alan Beattie writes a good article in the Financial Times about fuel subsidy reform, how subsidies affect our economies and also why it is so hard to remove them. He also shows that there are … Continue reading Why is reforming fuel subsidies so hard?
Seldom do we think about how we should provide subsidies. Iván Martén. senior partner at the Boston Consulting Group, provides three important principles in a recent Wall Street Journal blog. Three Principles for Subsidizing Renewable Energy Renewable-energy production brings extra costs to the power system that should be managed and subsidized in the most … Continue reading How renewable energy should be subsidised
Following the numbers of the week Agence France Presse writes that the EU is having a re-think about the level of subsidies for renewable energy. Hopefully, whatever happens, there will be a level playing field, as they say. The numbers of the week show the extent of the subsidies for fossil fuels. Last week, the … Continue reading Where are subsidy policies going?
The International Monetary Fund (IMF) recently released advice on Energy Subsidy Reform. Robin Harding wrote an excellent article on the issue for the Financial Times. IMF signals push to scrap energy subsidies The world could solve a large part of its fiscal problems by scrapping $1.9tn* in energy subsidies, the International Monetary Fund said … Continue reading Focus on energy subsidies
The IEA reported in its 2012 World Energy Outlook that there has been a 30 per cent increase in fossil fuel subsidies to about €400 billion in 2011. “Subsidies to fossil fuels continue to distort energy markets,” Fatih Birol, IEA’s chief economist, added. The report goes on that, although renewables will become the world’s second-largest … Continue reading Number of the week – 30