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The IMF vs. energy subsidies

Posted on 02 April 2013

The IMF jumps into the climate change debate with a headline-grabbing carbon tax proposal; Dr John Abrahams talks to us about climate change realities; the idea of the self-driving car gains traction; Shell announces $1 billion annual spending plan on Chinese shale; and a sneak preview of this week’s premium offerings…
The International Monetary Fund (IMF) is against government energy subsidies. This certainly shouldn’t come as any surprise for this austerity institution, but its latest report is gaining a decent amount of traction in the media because it’s the first time the IMF has seriously jumped into the climate change theater. It calls for an end to energy subsidies across the board (about $1.9 trillion annually around the world) or for these subsidies to be offset with taxes that could pay for expensive social programs………………………………………..Full Article: Source


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