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News, Press Releases, & Announcements

News: Guardian data blog on fossil-fuel subsidies

UK newspaper The Guardian has published an article on fossil-fuel subsidies in its ‘data blog’. The piece accurately reports a summary of the latest data of fossil-fuel subsidies around the world – their size, inefficiency and incidence.

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News: Schooling Citizens in the Irrationality of Fossil-Fuel Producer Subsidies

In an op-ed for the Los Angeles Times, Bill McKibben, Middlebury College professor and founder of the global climate campaign 350.org, highlights the irrationality of U.S. subsidies to fossil-fuel producers by comparison with a type of support that most people are more familiar with - low-interest college loans and scholarships.

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News: Subsidies to Norway's Oil and Gas Industry Estimated at NOK 25.5 bn in 2009

The Norwegian government provided 25.5 billion Norwegian kroner (US$4 billion) in subsidies for upstream oil and gas activities in 2009, according to a new report. The report, published by the International Institute for Sustainable Development’s Global Subsidies Initiative, and authored by Econ Pöyry, provides the first detailed accounting of oil and gas subsidies in Norway.

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News: Nigeria Poised to End Fuel Subsidies

Nigeria appears poised to end fuel subsidies, an unpopular move in the oil-rich nation where citizens have come to expect cheap fuel as one of their few government benefits, reports Bloomberg. The government submitted a three-year plan to lawmakers proposing to save US$ 8 billion by phasing out subsidies starting from the 2012 fiscal year. The plan says part of that amount can help the poor.

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News: India to Limit Fuel Subsidies to US$ 8.15 Billion

India plans to limit its fuel subsidies at INR 400 billion (US$ 8.15 billion) this fiscal year, scaling down its initial estimate by INR 50 billion following easing crude oil prices and a higher borrowing target, a senior finance ministry official said, as quoted by the Wall Street Journal.

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News: Strike Suspended Following Subsidy Payment Promise in Lebanon

Lebanese parliament approves monthly LBP 400 000 (US$ 265) fuel subsidy payments to public transportation drivers’ for a three month period, reports online Lebanese news site Naharnet. Following the decision, a drivers’ union nationwide strike was suspended.

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