November 2010 - G20 Fossil-Fuel Subsidy Phase Out - A review of current gaps and

Comparisons with third party studies of consumer and producer subsidies found In its September 2009 Communiqué from Pittsburgh, the G20 that some of the countries reporting very little in the way of nations (“Group of Twenty” nations that include the largest subsidies to the G20 had tens of billions in subsidies in the economies in the world) committed to “rationalize and phase other assessments. [...] The purpose of this evaluation was to assess the coverage of existing reporting, identify patterns in arguments countries • Establishing an oversight and review board for reporting put forth to exclude policies from reform, and discuss options to review submittals for accuracy and coverage, with the to increase the chance of the reform effort being successful. [...] Russia - Proposes to implement the commitment to rationalize and Yes Acknowledged, but No No phase out inefficient fossil fuel subsidies through national economic and no detail energy policy, within the framework of its Energy Strategy 2030 and the Concept of Long-Term Social and Economic Development, as well as in the context of its joining the WTO. [...] In fact, Identifying which specific fossil-fuel subsidies are even the after-tax US price may be on the low side, as there are ‘inefficient’ and ‘encourage wasteful consumption’ requires significant residual subsidies to petrol in the US.4 understanding the circumstances of each country, and the impact of the different subsidies in use. [...] OPEC is of the opinion that the benchmark price to be used in the case of energy resource The domestic support can be monetized, and the government well-endowed countries should be the cost of production.