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The Environmental Cost of Global Fuel Subsidies

The Environmental Cost of Global Fuel Subsidies

Full Title: The Environmental Cost of Global Fuel Subsidies
Author(s): Lucas W. Davis
Publisher(s): CATO Institute
Publication Date: June 1, 2016
Full Text: Download Resource
Description (excerpt):

My research paper quantifies the environmental and other external costs of global fuel subsidies using the latest available data and estimates from the World Bank and International Monetary Fund. Under baseline assumptions about supply and demand elasticities, current subsidies cause $44 billion in external costs annually. This includes $8 billion from carbon dioxide emissions, $7 billion from local pollutants, $12 billion from traffic congestion, and $17 billion from accidents.

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