The dip in
oil subsidies in 2016, and the higher share of electricity, reflect some short - term price developments but also reveal a new set of challenges to remove them.
With world
oil subsidies in the billions, and completely unsustainable, it is rather strange to suggest wind turbines «can not survive without subsidies».
Obama clearly picked up on bipartisan interest in eliminating distorting energy subsidies, but sadly targeted only
oil subsidies in seeking the billions he wants for research and innovation.
Not exact matches
Responding to Tory charges that the NDP's proposed cap - and - trade system would wind up raising gas prices by 10 cents per litre, Jack Layton blamed Stephen Harper «s
subsidies to big
oil companies and support for the harmonized sales tax
in Ontario for higher gas prices.
In Indonesia, which ended gasoline subsidies in 2015 and lowered the diesel subsidy to 500 rupiah (3.6 U.S. cents) per litre in 2016, retail prices also haven't risen by as much as the price of crude oi
In Indonesia, which ended gasoline
subsidies in 2015 and lowered the diesel subsidy to 500 rupiah (3.6 U.S. cents) per litre in 2016, retail prices also haven't risen by as much as the price of crude oi
in 2015 and lowered the diesel
subsidy to 500 rupiah (3.6 U.S. cents) per litre
in 2016, retail prices also haven't risen by as much as the price of crude oi
in 2016, retail prices also haven't risen by as much as the price of crude
oil.
His rivals play off it on the campaign trail, with the NDP's Thomas Mulcair bemoaning billions
in subsidies to the fossil fuel sector and Liberal Leader Justin Trudeau saying Harper «bet everything on the price of
oil.»
In fact, it is «Empty Promises: G20
subsidies to
oil, gas and coal production.»
A version of this article appears
in print on July 4, 2010, on Page A1 of the New York edition with the headline: As
Oil Industry Fights a Tax, It Reaps
Subsidies.
But thanks to the
subsidy they get from Canada, refineries
in Cushing often enjoy refinery margins, or crack spreads as they're known
in the industry, that have been as much as five times what refineries on the Gulf Coast, which have to pay full world
oil prices for their feedstock, operate with.
Mulcair's argument then becomes essentially that
in addition to costing taxpayers and the environment,
oil and gas
subsidies are also undermining other export industries via the Dutch - Currency - Phenomenon - That - Shall - Not - Be-Named.
In order to replace the Venezuelan oil subsidies deal, known as Petrocaribe, Mexico would have to supply Cuba with 55,000 barrels per day and another 39,000 barrels per day to other Petrocaribe nations in the Caribbean and Central Americ
In order to replace the Venezuelan
oil subsidies deal, known as Petrocaribe, Mexico would have to supply Cuba with 55,000 barrels per day and another 39,000 barrels per day to other Petrocaribe nations
in the Caribbean and Central Americ
in the Caribbean and Central America.
But there's also a new element that Thomas Mulcair has added to this conversation:
subsidies to the
oil and gas industry — mostly
in the form of allowing the industry to externalize environmental costs.
Domestically, he moved forward on introducing land and labour reforms, and with the drop
in crude
oil prices, he has been able to reduce fuel
subsidies.
Energy exporting governments must use falling costs as an prospect to reduce generous
subsidies and restore their fiscal health, according to the personal arm of the Planet Financial institution Low
oil rates will aid invigorate personal investment decision
in the Center East according to a leading determine at the private...
Brazil was able to reduce
subsidies in oil and gas, but its export business was challenged as a result of the declining
oil prices, and its economy remained flat.
They are the ones who use racist, nasty comments about the poor on welfare and call them «takers» when
in fact the Federal government spends 10 times more on corporate tax loopholes and «corporate welfare»
in subsidies to
oil companies, the sugar and corn industries and many others.
Tax cuts for the rich,
subsidies for
oil companies that raked
in billions
in profits, laws passed making it much more difficult to declare bankruptcy and also legislation absolving big phrams of any lawsuits due to their non compete policies.
Tropical Traditions also restored traditional methods of producing coconut
oil by hand, and also worked to provide consumer access to other traditional products that had fallen out of favor
in the U.S. market, but for which there was a demand from health - conscious consumers interested
in sourcing food outside the corporate commodity food supply kept cheap by government
subsidies.
«The Presidency has also failed to offer explanations on the alleged involvement of its officials
in various sneaky
oil subsidy deals as well as reported diversion of N1.1 trillion worth of crude last year to service APC interests.
Set up groups and opt -
ins for your top campaigns or issues areas (one group might be «medicare» for example «or climate change» or «
oil subsidies») and then send most email on those campaigns to people who've taken an action on that campaign
in the last 3 months.
«If you take the Economic Intelligence Unit (EIU)[report], they said 2017 and onward is going to be a period of prosperity for Ghana and that is because of the foundation that we have laid, it's because of the work that we have done, we've eliminated a lot of the deficits that were created by huge
subsidies on utility tariffs, we eliminated a lot of the
subsidies that created huge deficits on the cost of petroleum products, today as I speak, Tema
Oil Refinery (TOR) is running, and producing petroleum products for Ghana, we have enough stock of LPG, our tanks and strategic reserves for petroleum products are all full, and, so, we have ships standing offshore Ghana with petroleum products, but there is no space to offload those products, and, so, we've done a good job
in stabilising various sectors of the economy.
Oil and gas companies, which are raking in record profits, certainly don't need $ 4 billion a year in subsidies, and even the oil company CEOs admit they don't need
Oil and gas companies, which are raking
in record profits, certainly don't need $ 4 billion a year
in subsidies, and even the
oil company CEOs admit they don't need
oil company CEOs admit they don't need it!
Marketers disclosed that they owe their foreign suppliers
in excess of $ 1.29 billion, even as the marketers were paid only N413 billion
in December 2015 for
oil subsidies.
With the government removing fuel
subsidies and
oil marketers refusing to sell diesel at pump prices, the cost of doing business
in Nigeria is expected to double over the next three months especially as
oil hits a benchmark price of $ 38 per barrel with the International Monetary Fund (IMF) predicting a further drop to $ 20 per barrel by mid-year.
In an example of strange bedfellows, the coalition fighting the deal includes
oil and gas producers who, like anti-nuclear activists, oppose the
subsidies.
NEWS - REVIEW FILE PHOTO Greg Blass handling home heating
oil subsidies as Department of Social Services commissioner
in 2010.
The Executive Director of the Chamber of Bulk
Oil Distributors (CBOD), Senyo Hosi, says government needs to consider scrapping the
subsidy on premix fuel, since such monies are only ending
in private pockets through the diversion of the commodity meant for the country's fisher - folk.
The ads should also mention the billions
in oil company
subsidies which the Republicans refuse to cut.
On May 20, 2015, nine days BEFORE the government was inaugurated, I laid out «Policy Prescriptions» - diversification of production, government revenue, and exports; imperative of a strong and credible economic team and cabinet; targeting «opportunity sectors» (solid minerals, refining and petrochemicals, a new and realistic fiscal regime for upstream
oil and gas, private sector investments
in power and infrastructure, agro-processing, retail and construction); freeing «up resources from downstream petroleum sector deregulation» emphasizing «an economic reality
in which hard decisions including some previously rebuffed by the opposition will have to be taken» a clear reference to the petrol
subsidy which government waited a full year before countenancing the critical decision!
In «Nigerian Economy in 2016: Withdrawal Symptoms» (January 27, 2016), I compared Nigeria to an addict finding it difficult to wean itself of the drug of oil and warned that «in 2016 we will be forced to begin reconciling ourselves to the real exchange rate of the Naira» and «it is wise to formally and publicly end the subsidy regime and bring certainty and investments into the downstream petroleum sector.&raqu
In «Nigerian Economy
in 2016: Withdrawal Symptoms» (January 27, 2016), I compared Nigeria to an addict finding it difficult to wean itself of the drug of oil and warned that «in 2016 we will be forced to begin reconciling ourselves to the real exchange rate of the Naira» and «it is wise to formally and publicly end the subsidy regime and bring certainty and investments into the downstream petroleum sector.&raqu
in 2016: Withdrawal Symptoms» (January 27, 2016), I compared Nigeria to an addict finding it difficult to wean itself of the drug of
oil and warned that «
in 2016 we will be forced to begin reconciling ourselves to the real exchange rate of the Naira» and «it is wise to formally and publicly end the subsidy regime and bring certainty and investments into the downstream petroleum sector.&raqu
in 2016 we will be forced to begin reconciling ourselves to the real exchange rate of the Naira» and «it is wise to formally and publicly end the
subsidy regime and bring certainty and investments into the downstream petroleum sector.»
In fact, the bill Obama voted for raised taxes on oil companies by $ 300 million over 11 years while providing $ 5.8 billion in subsidies for renewable energy, energy efficiency and alternative fuel
In fact, the bill Obama voted for raised taxes on
oil companies by $ 300 million over 11 years while providing $ 5.8 billion
in subsidies for renewable energy, energy efficiency and alternative fuel
in subsidies for renewable energy, energy efficiency and alternative fuels.
One of the charges read, «That you, Adegbite Adetoye and Ponnle Abiodun whilst being directors of Origin
Oil and Gas Limited on or about the 8th day of October 2010 to December, 2011
in Abuja within the jurisdiction of the High Court of the Federal Capital Territory, Abuja and with intent to defraud, conspired to obtain the sum of N735, 132, 076.18 From the Federal Government of Nigeria under false pretence that the said sum represented
subsidy accruing to you, whereas the sum is above the actual
subsidy payment for the importation of 15,000 mt of premium motor spirit (petrol) which you claim to have purchased from Vitol SA and imported into Nigeria through MT Silverie which representation you knew to be false.»
They both claim that incumbent Republican Congressman Chris Gibson took donations from the
oil and gas industries and has since «voted to continue billions
in tax
subsidies for his
oil and gas donors.»
He even voted to continue billions
in tax
subsidies for his
oil and gas donors.
One little - discussed
subsidy the
oil industry enjoys is the military protection
in the middle east, the argument being that without a strong naval presence, many tankers would be taken by pirates.
The question of what Empire State taxpayers are getting
in exchange for these
subsidies is never clear and compelling, despite regular claims of an economic bonanza that would sound quite normal coming from the lips of a supply - side snake -
oil salesman.
The Minister of Finance, Mrs Kemi Adeosun, on Tuesday said the Federal Government had fully paid the N48.2 billion outstanding
subsidy arrears owed
oil marketers
in 2015.
He said instead of putting more burden on the people, the APC government should come out clear on the «sleaze
in the
oil sector» under its watch, particularly the «shady
oil subsidy payouts and illegal lifting of N1.1 trn worth of crude, using unregistered companies.»
The military practically abolished Nigeria's federal system
in favour of a unitary, distributive economy
in which we all shared proceeds of
oil; they created more and more states eroding sub-national economic viability; they nationalized and indigenized banks and declared that government would hold the «commanding heights» of our economy, marginalizing investment and the private sector brought
in «big government»; they implemented «Udoji awards» and other elements of
oil and FX
subsidies that Nigeria battles to overcome today; and the about - to - depart government of Murtala / Obasanjo took the first $ 1billion jumbo loan that set Nigeria on the path to debt peonage!
The largest effects of removing
subsidies were found
in areas that export
oil and gas, such as Russia, Latin America, and the Middle East and North Africa.
Reform of energy
subsidies in oil - exporting countries can reduce carbon emissions and add years to
oil exports, according to a new paper from Rice University's Baker Institute for Public Policy.
The largest emissions savings would be
in oil and gas exporting countries, where fewer poor people would be affected, and
subsidy removal can be aided by currently low
oil prices.
Removing
subsidies in richer
oil and gas exporting regions would therefore provide significantly greater emissions savings and have a less detrimental impact on the poor.
The bad air quality has prompted the Ministry of Finance and NDRC to negotiate with the
oil companies about
subsidies in order to encourage high - quality fuel.
Increase biofuels to 60 million gallons by 2030, low - carbon fuel standard of 10 % by 2010, 1 million plug ‐
in hybrid cars by 2025, raise fuel economy standards, smart growth funding, end
oil subsidies, promote natural gas drilling, enhanced
oil recovery
«The
oil and gas
subsidies are costly to the American taxpayer and do little to incentivize production or reduce energy prices,» the White House says
in a document listing programs the administration wants to end.
$ 8 billion) over first ten years for deficit reductionObeys PAYGO; Starting
in 2026, 25 % of auction revenues for deficit reductionFuels and TransportationIncrease biofuels to 60 million gallons by 2030, low - carbon fuel standard of 10 % by 2010, 1 million plug»
in hybrid cars by 2025, raise fuel economy standards, smart growth funding, end
oil subsidies, promote natural gas drilling, enhanced
oil recoverySmart growth funding, plug -
in hybrids, raise fuel economy standards $ 7 billion a year for smart growth funding, plug -
in hybrids, natural gas vehicles, raise fuel economy standards; offshore drilling with revenue sharing and
oil spill veto, natural gas fracking disclosureCost ContainmentInternational offsetsOffset pool, banking and borrowing flexibility, soft price collar using permit reserve auction at $ 28 per ton going to 60 % above three - year - average market price» Hard» price collar between $ 12 and $ 25 per ton, floor increases at 3 % + CPI, ceiling at 5 % + CPI, plus permit reserve auction, offsets like W - MClean Air Act And StatesNot discussedOnly polluters above 25,000 tons of carbon dioxide equivalent a year, regional cap and trade suspended until 2017, EPA to set stationary source performance standards
in 2016, some Clean Air Act provisions excludedOnly polluters above 25,000 tons of carbon dioxide equivalent a year, regional cap and trade pre-empted, establishes coal - fired plant performance standards, some Clean Air Act provisions excludedInternational CompetitivenessTax incentives for domestic auto industryFree allowances for trade - exposed industries, 2020 carbon tariff on importsCarbon tariff on importsReferences: Barack Obama, 2007; Barack Obama, 8/3/08; Pew Center, 6/26/09; leaked drafts of American Power Act, 5/11/10.
Global energy - related emissions could peak by 2020 if energy efficiency is improved; the construction of inefficient coal plants is banned; investment
in renewables is increased to $ 400 billion
in 2030 from $ 270 billion
in 2014; methane emissions are cut
in oil and gas production and fossil fuel
subsidies are phased out by 2030.
That's not the only methodological issue: their study also undercounts
subsidies to
oil, gas, and coal production, relying on an estimate of $ 23 billion
in production
subsidies instead of the more than $ 70 billion we've identified
in G20 countries alone.
It assessed how
oil subsidies could influence investor decision - making and found that the impact of
subsidies on
oil production (and associated emissions)
in the U.S. was potentially very high.