The Environmental Cost of Global Fuel Subsidies

In August 2015 the United Arab Emirates (UAE) raised domestic gasoline and diesel prices by 25 percent. UAE’s energy minister, Suhail Al-Mazrouei, explained that the change was about “building a strong economy that is not dependent on government subsidies.” Then, at the beginning of 2016, Saudi Arabia raised domestic gasoline and diesel prices by 40 percent in an effort to “achieve wide structural reforms in the national economy and reduce its dependence on oil.”

 

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