Economy/Business News Alert

IMF calls for end to 'mispricing' of energy

Governments around the world subsidize gasoline, electricity and other major forms of energy to the tune of $1.9 trillion a year according to a new International Monetary Fund study calling for that amount to be offset through carbon taxes or other means to battle climate change and other social problems.

For the U.S., that would require a $1.40 levy per gallon of gas, and other fees for a total cost of around $1,170 per person to offset the full cost of fossil fuel use, including "externalities" like pollution and steps to mitigate the effects of global warming.

Read more at:
http://www.washingtonpost.com/business/economy/imf-citing-trillions-in-government-subsidies-calls-for-end-to-mispricing-of-energy/2013/03/27/09957d6e-96e1-11e2-814b-063623d80a60_story.html

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