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Fossil Fuel Subsidy Reforms - A Guide to Economic and Political Complexity (Paperback)
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Fossil Fuel Subsidy Reforms - A Guide to Economic and Political Complexity (Paperback)
Series: Routledge Studies in Energy Policy
Expected to ship within 12 - 17 working days
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Countries around the world are spending up to $500 billion per year
on subsidising fossil fuel consumption. By some estimates, the G20
countries alone are spending around another $450 billion on
subsidising fossil fuel production. In addition, the indirect
social welfare costs of these subsidies have been shown to be
substantial - for instance due to air pollution, road congestion,
climate change, and economic inefficiency, to name a few.
Considering these numbers, there is no doubt that fossil fuel
subsidies cause severe economic distortions that compromise
countries' prospects of achieving equitable and sustainable
development. This book provides a guide to the complex challenge of
designing, assessing, and implementing effective fossil fuel
subsidy reforms. It shows that subsidy reform requires a careful
balancing of complex economic and political trade-offs, as well as
measures to mitigate adverse effects on vulnerable households and
to assist firms with implementing efficiency enhancing measures.
Going beyond the purely fiscal perspective, this book emphasises
that smart subsidy reforms can contribute to all three dimensions
of sustainable development - environment, society, and economy.
Over the course of eight chapters, this book considers a wide range
of agents and stakeholders, markets, and policy measures in order
to distil the key principles of designing effective fossil fuel
subsidy reforms. This book will be of great relevance to scholars
and policy makers with an interest in energy economics and policy,
climate change policy, and sustainable development more broadly.
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