WHAT WILL HAPPEN TO FOSSIL FUEL SUBSIDIES?
September 1st, 2012
BY DAVID HAYHURST, IN PARIS
THREE years ago, the Group of Twenty (G20) finance ministers and central bank governors stated the organisation's intention was to "rationalise and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption". But today, following those fine words at the G20 2009 Pittsburgh Summit in the USA, the perception is now widespread that very few practical and positive measures have since been put into effect to help achieve this goal. And in some critical areas, in fact, overall momentum ...
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