Financial subsidies to the Australian fossil fuel industry
A common claim during international greenhouse gas reduction negotiations has been that domestic emissions cuts will harmnational economies. This argument fails to consider the distorting effect of existing financial subsidies and associated incentives tofossil fuel production and consumption provided by governments in most developed countries. These subsidies support a fossil fuelenergy sector that is the major contributor to global greenhouse gas emissions and conflict with attempts to expand the role ofsustainable energy technologies. Reform of these types of subsidies has the potential to provide substantial gains in economicefficiency as well as reductions in carbon dioxide emissions-a 'no regrets' outcome for the economy and the environment. Thispaper examines financial subsidies to fossil fuel production and consumption in Australia and estimates the magnitude of thesubsidies. Subsidies and associated incentives to fossil fuel production and consumption in Australia are similar to those in theUnited States and the other countries that have pushed for increased 'flexibility' during international negotiations.
Year of publication: |
2007
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Authors: | Riedy Christopher ; Diesendorf Mark |
Publisher: |
Elsevier Sci Ltd |
Saved in:
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