AUTONEWS

The countries that most love fossil fuels

The figures are overwhelming and point to the fact that most countries subsidize fossil fuels at 5.2 trillion dollars in English, which in English corresponds to 5.2 billion dollars (or 5.2 trillion dollars) . The International Monetary Fund (IMF) says the figures are relative to 2017, adding that without these subsidies and adopting "smart" taxation, they could have been reduced by about 1/4 of total emissions of carbon.
In its analysis, the IMF begins by recalling that it uses a broader definition of fuel subsidies because it considers the difference between the price of fuel paid by users and what should be paid if that value reflects the price of fuel, plus taxes necessary to offset environmental costs and the necessary profit margin. Experts from the Environment Fund point to a minimum of $40 per tonne of carbon dioxide (CO2) as needed to offset excess emissions, which would mean finding solutions that are closer to carbon neutrality. However, there is no shortage of those who consider that $ 40 is putting the mark too low.
The IMF notes that these subsidies reached US$4.7 billion in 2015, rising to 5.2 in 2017, with China the most polluting country at US$1.4 billion, followed by the US (US$649 million), Russia (551 million), European Union (289 million) and India (209 million).
"A more correct fuel price in 2015, without the subsidies, would have reduced carbon emissions by 28 percent and deaths from respiratory diseases by 46 percent, while increasing GDP by 3.8 percent," he said. details the report. The IMF also notes that, regardless of environmental costs, fossil fuel subsidies have reached $296 billion by 2017.