GSI/UNEP conference report finds fossil-fuel subsidy reform complex and challenges sobering; ~1% of global GDP spent on fossil-fuel subsidies
Green Car Congress
JANUARY 23, 2011
For example, at peak oil price in 2008, Indonesia was spending 40% of its budget on transport fuel—more than health, education and infrastructure development combined. ” Some of the main lessons drawn from the report include: Fossil-fuel subsidies absorb serious amounts of money.
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