Thank you, the paper you cite makes clear claims: that the environmental (climate change, air pollution, etc.) impact should be priced into the cost of petroleum based fuels. The paper states that 92% of the subsidies to the oil & gas industry are because of the price of fuel doesn't reflect the societal costs related to pollution.
The interesting finding presented in the paper are:
[p. 9] "Underpricing of fossil fuels is still pervasive across countries and is often substantial, especially for coal."
[p. 9] 18% of these subsidies go to gasoline
[p. 9] "The power generation sector is the largest recipient of subsidies"
[p. 10] "By region East Asia and the Pacific accounts for 48 percent of total energy subsidies"
[p. 7] China and India together had 3.4 Million premature deaths due to air pollution in 2020 (The USA had 0.1 Million)
From an economic efficiency point of view, I can understand that prices are important, but wouldn't we have to take account of the benefits of using petroleum fuels too? Like allowing developing countries to feed their populations? They clearly can't do this with solar powered agriculture and solar powered shipping.
The interesting finding presented in the paper are:
[p. 9] "Underpricing of fossil fuels is still pervasive across countries and is often substantial, especially for coal."
[p. 9] 18% of these subsidies go to gasoline
[p. 9] "The power generation sector is the largest recipient of subsidies"
[p. 10] "By region East Asia and the Pacific accounts for 48 percent of total energy subsidies"
[p. 7] China and India together had 3.4 Million premature deaths due to air pollution in 2020 (The USA had 0.1 Million)
From an economic efficiency point of view, I can understand that prices are important, but wouldn't we have to take account of the benefits of using petroleum fuels too? Like allowing developing countries to feed their populations? They clearly can't do this with solar powered agriculture and solar powered shipping.