IMF Urges Subsidy Cuts on Fossil Fuels

IMF Urges Subsidy Cuts on Fossil Fuels

The head of International Monetary Fund on Friday urged countries to remove subsidies on fossil fuels and launch schemes that put a price on carbon dioxide emissions to curb rising emissions blamed for global warming.
“The issue of climate change is the critical question of the moment and the next decade,” Christine Lagarde also said at a panel discussion in Vienna, Reuters reported.
“We have indicated from the IMF two things that are equally important—the first one is to remove around the world subsidies of the consumption of fossil energy,” she said, adding that a second step would be to set up a mechanism to take care of any subsequent movement of the price of carbon.
In December, nations agreed to a landmark global climate accord for transforming the world’s fossil fuel-driven economy within decades.

Short URL : http://goo.gl/hnhNcp
  1. http://goo.gl/QQim0P
  • http://goo.gl/MBRj50
  • http://goo.gl/7tQ7NQ
  • http://goo.gl/JbnB0o
  • http://goo.gl/1iUsGI

You can also read ...

US Financiers Unwilling to Invest in Aramco IPO
Saudi Arabia’s willingness to delay the initial public...
New US State Secretary Could Discourage Global Oil Supply
Incoming State Secretary Mike Pompeo could change foreign...
Zanganeh: OPEC Unlikely to Change Production Deal
Iranian Oil Minister Bijan Namdar Zanganeh said OPEC is...
OPEC and other producers began cutting supply in January 2017.
Oil prices were set to fall this week, despite a slight gain...
Norway's Oil Major Rebrands
Statoil ASA, Norway’s biggest petroleum company, will change...
Plans to Boost Output From 22 Oil, Gas Fields
Talks between the National Iranian Oil Company and domestic...