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Worldwide Energy Subsidies and the Impact of Their Removal on Economic Welfare and Global Climate Change

In: Taxing Choices for Managing Natural Resources, the Environment, and Global Climate Change

Author

Listed:
  • Bjorn Larsen

    (Environmental Health and Resource Economics Global Consulting Services)

  • Angie Nga Le

    (Florida International University)

  • Anwar Shah

    (Brookings Institution)

Abstract

It has been argued that economic policies to protect local and global environments should, first and foremost, remove fossil fuel subsidies. Larsen, Le, and Shah (this chapter) estimate energy subsidies for oil, gas, coal and electricity. Based on a sample of 87 countries, they estimate that in 2019, world energy (oil, gas, coal, and electricity) subsidies to be more than US$1.38 trillion. They note that despite renewed heightened interest in combating global climate change, world has made little progress to get energy prices right over the last three decades and the use of energy subsidies worldwide has significantly increased over the past three decades.

Suggested Citation

  • Bjorn Larsen & Angie Nga Le & Anwar Shah, 2023. "Worldwide Energy Subsidies and the Impact of Their Removal on Economic Welfare and Global Climate Change," Springer Books, in: Anwar Shah (ed.), Taxing Choices for Managing Natural Resources, the Environment, and Global Climate Change, chapter 0, pages 325-383, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-22606-9_9
    DOI: 10.1007/978-3-031-22606-9_9
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