Still Not Getting Energy Prices Right A Global And Country Update Of Fossil Fuel Subsidies PDF Download
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Author | : Ian Parry |
Publisher | : International Monetary Fund |
Total Pages | : 42 |
Release | : 2021-09-24 |
Genre | : Business & Economics |
ISBN | : 1513595407 |
Download Still Not Getting Energy Prices Right: A Global and Country Update of Fossil Fuel Subsidies Book in PDF, ePub and Kindle
This paper provides a comprehensive global, regional, and country-level update of: (i) efficient fossil fuel prices to reflect their full private and social costs; and (ii) subsidies implied by mispricing fuels. The methodology improves over previous IMF analyses through more sophisticated estimation of costs and impacts of reform. Globally, fossil fuel subsidies were $5.9 trillion in 2020 or about 6.8 percent of GDP, and are expected to rise to 7.4 percent of GDP in 2025. Just 8 percent of the 2020 subsidy reflects undercharging for supply costs (explicit subsidies) and 92 percent for undercharging for environmental costs and foregone consumption taxes (implicit subsidies). Efficient fuel pricing in 2025 would reduce global carbon dioxide emissions 36 percent below baseline levels, which is in line with keeping global warming to 1.5 degrees, while raising revenues worth 3.8 percent of global GDP and preventing 0.9 million local air pollution deaths. Accompanying spreadsheets provide detailed results for 191 countries.
Author | : Mr.David Coady |
Publisher | : International Monetary Fund |
Total Pages | : 39 |
Release | : 2019-05-02 |
Genre | : Business & Economics |
ISBN | : 1484393171 |
Download Global Fossil Fuel Subsidies Remain Large: An Update Based on Country-Level Estimates Book in PDF, ePub and Kindle
This paper updates estimates of fossil fuel subsidies, defined as fuel consumption times the gap between existing and efficient prices (i.e., prices warranted by supply costs, environmental costs, and revenue considerations), for 191 countries. Globally, subsidies remained large at $4.7 trillion (6.3 percent of global GDP) in 2015 and are projected at $5.2 trillion (6.5 percent of GDP) in 2017. The largest subsidizers in 2015 were China ($1.4 trillion), United States ($649 billion), Russia ($551 billion), European Union ($289 billion), and India ($209 billion). About three quarters of global subsidies are due to domestic factors—energy pricing reform thus remains largely in countries’ own national interest—while coal and petroleum together account for 85 percent of global subsidies. Efficient fossil fuel pricing in 2015 would have lowered global carbon emissions by 28 percent and fossil fuel air pollution deaths by 46 percent, and increased government revenue by 3.8 percent of GDP.
Author | : Ian W.H. Parry |
Publisher | : International Monetary Fund |
Total Pages | : 198 |
Release | : 2014-07-22 |
Genre | : Business & Economics |
ISBN | : 1484388577 |
Download Getting Energy Prices Right Book in PDF, ePub and Kindle
Energy taxes can produce substantial environmental and revenue benefits and are an important component of countries’ fiscal systems. Although the principle that these taxes should reflect global warming, air pollution, road congestion, and other adverse environmental impacts of energy use is well established, there has been little previous work providing guidance on how countries can put this principle into practice. This book develops a practical methodology, and associated tools, to show how the major environmental damages from energy can be quantified for different countries and used to design the efficient set of energy taxes.
Author | : Mr. Simon Black |
Publisher | : International Monetary Fund |
Total Pages | : 32 |
Release | : 2023-08-24 |
Genre | : Business & Economics |
ISBN | : |
Download IMF Fossil Fuel Subsidies Data: 2023 Update Book in PDF, ePub and Kindle
This paper provides a comprehensive global, regional, and country-level update of: (i) efficient fossil fuel prices to reflect supply and environmental costs; and (ii) subsidies implied by charging below efficient fuel prices. Globally, fossil fuel subsidies were $7 trillion in 2022 or 7.1 percent of GDP. Explicit subsidies (undercharging for supply costs) have more than doubled since 2020 but are still only 18 percent of the total subsidy, while nearly 60 percent is due to undercharging for global warming and local air pollution. Differences between efficient prices and retail fuel prices are large and pervasive, for example, 80 percent of global coal consumption was priced at below half of its efficient level in 2022. Full fossil fuel price reform would reduce global carbon dioxide emissions to an estimated 43 percent below baseline levels in 2030 (in line with keeping global warming to 1.5-2oC), while raising revenues worth 3.6 percent of global GDP and preventing 1.6 million local air pollution deaths per year. Accompanying spreadsheets provide detailed results for 170 countries.
Author | : Mr.Benedict J. Clements |
Publisher | : International Monetary Fund |
Total Pages | : 390 |
Release | : 2013-09-13 |
Genre | : Business & Economics |
ISBN | : 1484339169 |
Download Energy Subsidy Reform Book in PDF, ePub and Kindle
Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. This book provides the most comprehensive estimates of energy subsidies currently available for 176 countries and an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.
Author | : Merrill, Laura |
Publisher | : Nordic Council of Ministers |
Total Pages | : 59 |
Release | : 2015-10-21 |
Genre | : Science |
ISBN | : 9289343877 |
Download Tackling Fossil Fuel Subsidies and Climate Change Book in PDF, ePub and Kindle
This report presents research on fossil fuel subsidy reform across 20 countries and reveals an average reduction in national GHG emissions of 11% by 2020 from potential reform, and savings of USD 93 per tonne of CO2. With modest recycling of resources to renewables and energy efficiency, reductions can be improved. Countries are including reforms in contributions towards a climate agreement. Authored by the Global Subsidies Initiative as part of the Nordic Prime Ministers' green growth initiative www.norden.org/greengrowth
Author | : Mr.Carlo A. Sdralevich |
Publisher | : International Monetary Fund |
Total Pages | : 130 |
Release | : 2014-07-09 |
Genre | : Technology & Engineering |
ISBN | : 1498348467 |
Download Subsidy Reform in the Middle East and North Africa Book in PDF, ePub and Kindle
In the Middle East and North Africa (MENA) countries price subsidies are common, especially on food and fuels. However, these are neither well targeted nor cost effective as a social protection tool, often benefiting mainly the better off instead of the poor and vulnerable. This paper explores the challenges of replacing generalized price subsidies with more equitable social safety net instruments, including the short-term inflationary effects, and describes the features of successful subsidy reforms.
Author | : Mr.Trevor Serge Coleridge Alleyne |
Publisher | : International Monetary Fund |
Total Pages | : 125 |
Release | : 2013-08-12 |
Genre | : Business & Economics |
ISBN | : 1484366549 |
Download Energy Subsidy Reform in Sub-Saharan Africa Book in PDF, ePub and Kindle
The reform of energy subsidies is an important but challenging issue for sub-Saharan African (SSA) countries. There is a relatively large theoretical and empirical literature on this issue. While this paper relies on that literature, too, it tailors its discussion to SSA countries to respond to the following questions: Why it is important to reduce energy subsidies? What are the difficulties involved in energy subsidy reform? How best can a subsidy reform be implemented? This paper uses various sources of information on SSA countries: quantitative assessments, surveys, and individual (but standardized) case studies.
Author | : |
Publisher | : |
Total Pages | : 556 |
Release | : 1978 |
Genre | : Fuel |
ISBN | : |
Download International Energy Prices Book in PDF, ePub and Kindle
Author | : Merrill, Laura |
Publisher | : Nordic Council of Ministers |
Total Pages | : 84 |
Release | : 2017-05-10 |
Genre | : Political Science |
ISBN | : 9289350164 |
Download Making the Switch Book in PDF, ePub and Kindle
This report estimates fossil fuel subsidies to be around USD 425 billion. Such subsidies represent large lost opportunities for governments to invest in renewable energy, energy efficiency and sustainable development. Removal of consumer subsidies can lead to carbon emission reductions (6 to 8 per cent by 2050 globally), Reductions that can be improved further with a switch or a "SWAP" towards sustainable energy. This report describes the scale and impact of fossil fuel subsidies on sustainable development. It describes the SWAP concept to switch savings made from fossil fuel subsidy reform, towards sustainable energy, energy efficiency and safety nets. The report provides potential SWAP outlines for Bangladesh, Indonesia, Morocco and Zambia. "Making the Switch" was written for the Nordic Council Ministers by the Global Subsidies Initiative of IISD and Gaia Consulting.