GLOBAL SUBSIDIES INITIATIVE
Subsidy WatchIssue 39, July 2010
Download as PDF: Subsidy Watch, Issue 39, July 2010 (688 KB)
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APEC Speaks: how Asia-Pacific economies plan to address fossil-fuel subsidy reform
The Leaders' Declaration from the Asia-Pacific Economic Cooperation's (APEC) 17th Economic Leaders' Meeting, released on 15 November 2009, included a commitment to "rationalize and phase out over the medium term fossil-fuel subsidies that encourage wasteful consumption, while recognising the importance of providing those in need with essential energy services." This closely mirrors the language of the Group of Twenty Finance Ministers and Central Bank Governors (G-20), who announced their own commitment to phase out and rationalize fossil-fuel subsidies at their Pittsburgh Summit on 25 September 2009.
Also in this issue:
Analysis
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G-20 Summit sees little mention of pledge to reform fossil-fuel subsidies
By Fernando Cabrera Diaz
The G-20 Toronto Summit, hosted on 26-27 June by Canadian Prime Minister Stephen Harper, concluded without any new commitments to take forward the pledge made last year to reform fossil-fuel subsidies, despite pre-Summit hopes that Canada might show leadership by unilaterally eliminating some of its own.
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BP oil spill dirties reputation of U.S. support for fossil-fuel industry
Since the 20 April explosion on British Petroleum's (BP) Deepwater Horizon oil rig, hundreds of millions of barrels of oil have spilled into the Gulf of Mexico. As commentators have begun to point the finger of blame, attention has turned to the role played by two types of policies – without which, some argue, the ultra-deepwater oil rig would not have been operating in the first place.
Commentary
News
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Fossil-fuel subsidies round-up: May and June 2010
Following announcements that fossil-fuel subsidies will be phased out, from the G-20, APEC and a number of independent countries, including Iran, Nigeria and Bahrain, Subsidy Watch has decided each month to highlight important news stories that touch on this theme ...
Studies
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G-20 Joint Report becomes publically available
When the G-20 committed to rationalize and phase out inefficient fossil-fuel subsidies that lead to wasteful consumption, they asked the International Energy Agency (IEA), the Organisation of Petroleum Exporting Countries (OPEC), the Organisation for Economic Co-operation and Development (OECD) and the World Bank to "provide an analysis of the scope of energy subsidies and suggestions for the implementation" of the initiative.
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United Soybean Board disputes Argentine subsidy
On 23 June, the United Soybean Board (USB) published the report, Impact of Argentina's System of Differential Export Tax Rates.
The study reports that Argentina levies different tax rates on soybean products at different points of the processing chain: 35% for exports of soybeans; 32% for exports of soybean oil and meal; and 17.5% for exports of soy biodiesel.
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GSI study on international cooperation over fossil-fuel subsidy reform
This July, the Global Subsidies Intiative (GSI) released a new paper on fossil-fuel subsidies: Increasing the Momentum of Fossil-Fuel Subsidy Reform: A roadmap for international cooperation.
The paper argues that international collaboration and agreement can provide essential support to national efforts to reform fossil-fuel subsidies: in addition to supplying political legitimacy and peer pressure, it can offer research and technical assistance, sharing of information and best practices, establishment of rules, financial support and promoting increased accountability.
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Bolivia’s energy-sector intervention is a missed opportunity for economic development
By Professor Raymond Saner, the Centre for Socio Eco-Nomic Development (CSEND)
On 1 May 2010, Bolivian President Evo Morales announced the nationalization of four power companies as part of a ceremony to mark International Workers' Day. According to the Latin American Herald Tribune, this brought 80% of the country's electricity generation under the control of state-owned power company ENDE.
This follows Bolivia's nationalization of the oil and gas sector under state oil company Yacimientos Petroliferos Fiscales Bolivianos (YPFB), a process that began in May 2006 and was completed in July 2009.
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