fossil fuel subsidies, subsidy reform, subsidy variance, credit subsidies

For many years, policy discussions have focused on strategies to bring down greenhouse gas emissions using taxes, permits and other regulatory or statutory limits.  Yet fossil fuel markets across the world remain littered with government programs subsidizing these emissions.  The subsidies are large and act as a negative tax on carbon, slowing the transition to cleaner fuels, weakening the impact of carbon constraints and absorbing a significant portion of government revenues in many countries.