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IMF: Scrap $1.9 trillion oil and gas subsidies

Posted on 03 April 2013

The International Monetary Fund (IMF) has called for an end to the US$1.9 trillion in fossil fuel subsidies handed out worldwide each year.
A study commissioned by the organisation reveals that 8% of all government revenue globally is spent subsidising unsustainable energy with 40% of the $1.9 trillion total from advanced economies. The group’s Energy Subsidy Reform study found that an overhaul could have beneficial results for a nation’s economy………………………………………..Full Article: Source


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