Tag Archives: subsidies

Fossil Fuel Subsidies Globally

Fossil fuel subsidies are very common in developing nations. Subsidies cover the difference between the price at which fossil fuels are sold inside the country and their actual price in international markets, creating a huge fiscal burden (an estimated $400 billion annually) for the countries that provide them. Developing nations with fossil fuel subsidies include: Venezuela, Argentina, Ecuador, Algeria, Libya, Egypt, Kuwait, Iran, Pakistan, Russia, China, India, Indonesia, etc.

Developed nations also provide subsidies in the form of tax breaks to the oil industry and other measures (estimated at a cost of $45 to $75 billion per year). Nations in this group include many OECD (Organization for Economic Co-operation and Development) members.

For the interactive map, visit: National Geographic: The Great Energy Challenge: Fossil Fuel Burden on State Coffers


The Cheapest and Most Expensive Places to Fill Your Gas Tank

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Gas prices go up or down according to supply-demand forces and to movements in the commodities market. According to this map, published by the Car and Driver blog, prices in the United States ($3.85 per gallon) are not that bad compared to gas prices in other countries.

European nations have the highest gas prices, above $7 per gallon. If you were in Turkey you will have to pay the highest price, a steep $9.39 per gallon. Turkey’s gas prices are followed by Norway ($9.38), Italy ( $9.00), Sweden ($8.75), the United Kingdom ($8.46), Germany ($8.29), and Iceland ($8.01).

In the Americas, the highest gas prices can be found in Belize ($7.59), followed by Uruguay ($6.99), Chile($6.60), Peru ($5.95), Argentina ($5.52) and Canada ($5.14). Gas prices are significantly low in Venezuela ($0.06) and Bolivia ($2.05) due to government subsidies.

Africa enjoys low gas prices, except for Djibouti ($6.48), Madagascar ($5.74), Zimbabwe ($5.38), and South Africa ($5.15).

In Asia, Japan pays the highest gas prices, $6.87 per gallon, followed by the Philippines ($5.43), and India ($5.42).

In Australia, New Zealand and Australia’s gas prices per gallon are $6.75 and $5.64, respectively.