Presentation by Petar Vujanovic at the 7th annual meeting of the MENA Senior Budget Officials held on 10-11 December 2014. Find more information at http://www.oecd.org/gov/budgeting
Evaluation of the impact of oil subsidy removal on manufacturing firms in sou...Newman Enyioko
This document provides background information on oil subsidy policy and discusses Nigeria's removal of oil subsidies in 2012. It led to public protests over increased costs of living and manufacturing. While subsidies on diesel were previously removed in 2006 with less opposition, subsidies on gasoline (PMS) directly impact most citizens. The document aims to evaluate the impact of subsidy removal on manufacturing firms in southeast Nigeria, an important industrial region. Subsidy removal may affect firms' operations as they rely on diesel generators for power and use diesel and gasoline to run vehicles and equipment.
The document discusses estimates of global fossil fuel subsidies from various organizations like the IEA and IMF. The IEA estimates subsidies of $544 billion in 2012 and $557 billion in 2008, while the IMF estimates total subsidies of $1.9 trillion annually. These subsidies distort the market and encourage continued investment in polluting fossil fuels rather than clean energy. Total subsidies are much larger than reported when also considering tax benefits, health and environmental externalities. Removing subsidies could significantly reduce greenhouse gas emissions and help transition to renewable resources, though most subsidies currently support developing nations' continued reliance on fossil fuels for industrialization.
Oil subsidies in India primarily benefit wealthy households rather than the poor. While originally intended to help the financially vulnerable, subsidies now disproportionately go to the richest 20% of households. This is exacerbated by India's rising oil imports and stagnating exploration and production. Removing subsidies could help reduce environmental damage from fossil fuel use and free up funds for renewable energy development. A gradual phase-out approach targeting industries and higher income users is proposed, along with maintaining support for public transportation and the poorest segments of society.
- Oil prices fell to a four-year low below $77.70 per barrel as Chinese economic growth slowed and Saudi Arabia was silent on possible production cuts. OPEC will meet on November 27th to discuss responding to a 30% fall in prices over the past five months.
- Abu Dhabi will increase electricity and water prices starting January 1st, 2015 to reduce consumption and increase efficiency. Expatriates will see the largest increases.
- Mubadala Petroleum is looking at projects resilient to lower oil prices of $70-60 per barrel, such as the Manora oil field in Thailand. Global oil prices have fallen from $115 in June due to various economic and geopol
Nigeria is a major oil producer but relies on imports for most of its oil products due to limited domestic refining capacity. Oil products are important sources of energy for transportation, households, and businesses. While natural gas is also domestically produced, access to electricity is limited, especially in rural areas. High costs and reliability issues mean many firms and households rely on diesel generators as backups. Energy subsidies are an important issue in Nigeria given its role as a major oil producer but reliance on imports and limited domestic refining.
Greetings,
Attached FYI ( NewBase Special 29 July 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.comor khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
1. The document discusses the impact of subsidies on the Indian economy. It outlines various types of subsidies provided by the Indian government and their objectives such as redistributing income, promoting exports and agriculture, and providing food subsidies.
2. While subsidies have positive impacts like lower cost of living and farmers' welfare, they can also negatively impact efficiency and fiscal deficits. Over-subsidization can harm the environment and resource allocation.
3. However, the document argues that subsidies are necessary for India as a developing nation with large populations in poverty and low literacy. Subsidies aim to promote agriculture and exports. While better implementation is needed, slow cutbacks on subsidies are also important to avoid
Saudi Aramco plans to enter the retail market by setting up its own gas stations. It has received approval to establish a fully owned retail company to build, operate, and maintain gas stations and supermarkets. The company aims to become more integrated and enter new business lines like petrochemicals and refined product sales. Fuel subsidies cost governments in emerging markets over $500 billion per year and contribute significantly to climate change. The largest subsidies are in the Middle East, North Africa, Asia, and parts of Latin America. Cutting subsidies could save oil consumption equivalent to Germany, France and the UK's combined emissions and significantly improve government budgets. However, subsidies are politically difficult to reform as they are seen as sharing resource wealth
Evaluation of the impact of oil subsidy removal on manufacturing firms in sou...Newman Enyioko
This document provides background information on oil subsidy policy and discusses Nigeria's removal of oil subsidies in 2012. It led to public protests over increased costs of living and manufacturing. While subsidies on diesel were previously removed in 2006 with less opposition, subsidies on gasoline (PMS) directly impact most citizens. The document aims to evaluate the impact of subsidy removal on manufacturing firms in southeast Nigeria, an important industrial region. Subsidy removal may affect firms' operations as they rely on diesel generators for power and use diesel and gasoline to run vehicles and equipment.
The document discusses estimates of global fossil fuel subsidies from various organizations like the IEA and IMF. The IEA estimates subsidies of $544 billion in 2012 and $557 billion in 2008, while the IMF estimates total subsidies of $1.9 trillion annually. These subsidies distort the market and encourage continued investment in polluting fossil fuels rather than clean energy. Total subsidies are much larger than reported when also considering tax benefits, health and environmental externalities. Removing subsidies could significantly reduce greenhouse gas emissions and help transition to renewable resources, though most subsidies currently support developing nations' continued reliance on fossil fuels for industrialization.
Oil subsidies in India primarily benefit wealthy households rather than the poor. While originally intended to help the financially vulnerable, subsidies now disproportionately go to the richest 20% of households. This is exacerbated by India's rising oil imports and stagnating exploration and production. Removing subsidies could help reduce environmental damage from fossil fuel use and free up funds for renewable energy development. A gradual phase-out approach targeting industries and higher income users is proposed, along with maintaining support for public transportation and the poorest segments of society.
- Oil prices fell to a four-year low below $77.70 per barrel as Chinese economic growth slowed and Saudi Arabia was silent on possible production cuts. OPEC will meet on November 27th to discuss responding to a 30% fall in prices over the past five months.
- Abu Dhabi will increase electricity and water prices starting January 1st, 2015 to reduce consumption and increase efficiency. Expatriates will see the largest increases.
- Mubadala Petroleum is looking at projects resilient to lower oil prices of $70-60 per barrel, such as the Manora oil field in Thailand. Global oil prices have fallen from $115 in June due to various economic and geopol
Nigeria is a major oil producer but relies on imports for most of its oil products due to limited domestic refining capacity. Oil products are important sources of energy for transportation, households, and businesses. While natural gas is also domestically produced, access to electricity is limited, especially in rural areas. High costs and reliability issues mean many firms and households rely on diesel generators as backups. Energy subsidies are an important issue in Nigeria given its role as a major oil producer but reliance on imports and limited domestic refining.
Greetings,
Attached FYI ( NewBase Special 29 July 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.comor khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
1. The document discusses the impact of subsidies on the Indian economy. It outlines various types of subsidies provided by the Indian government and their objectives such as redistributing income, promoting exports and agriculture, and providing food subsidies.
2. While subsidies have positive impacts like lower cost of living and farmers' welfare, they can also negatively impact efficiency and fiscal deficits. Over-subsidization can harm the environment and resource allocation.
3. However, the document argues that subsidies are necessary for India as a developing nation with large populations in poverty and low literacy. Subsidies aim to promote agriculture and exports. While better implementation is needed, slow cutbacks on subsidies are also important to avoid
Saudi Aramco plans to enter the retail market by setting up its own gas stations. It has received approval to establish a fully owned retail company to build, operate, and maintain gas stations and supermarkets. The company aims to become more integrated and enter new business lines like petrochemicals and refined product sales. Fuel subsidies cost governments in emerging markets over $500 billion per year and contribute significantly to climate change. The largest subsidies are in the Middle East, North Africa, Asia, and parts of Latin America. Cutting subsidies could save oil consumption equivalent to Germany, France and the UK's combined emissions and significantly improve government budgets. However, subsidies are politically difficult to reform as they are seen as sharing resource wealth
This document provides information about Chile's energy sector reforms and policy transfers. It discusses how Chile heavily relied on importing fossil fuels and hydroelectric power, making its energy vulnerable. To address this, Chile implemented reforms in the 1990s, transferring policies from France to liberalize its electricity market and encourage private investment in natural gas pipelines from Argentina. This diversified Chile's energy sources but reliance on gas from Argentina also made it vulnerable to supply disruptions. The government then took steps to further develop renewable energy and ensure adequate regulations were in place to promote competition in the energy sector.
A digital copy of the Business News 24 (23 March 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
UAE to abolish fuel subsidies - other oil producers to follow suitAranca
The OPEC’s third-largest oil producer will abolish subsidies and deregulate fuel prices from August 1, 2015 in a move aimed at supporting the national economy, lowering fuel consumption, protecting the environment, and preserving national resources.
ICF International presents a post–American Recovery and Reinvestment Act (ARRA) outlook for the alternative fuel vehicles (AFV) industry and shares new trends related to plug-in electric, biofuel, natural gas, propane, and hydrogen-fueled vehicles.
The presentation outlines the top five AFV trends as identified by ICF:
1. Demand in the medium- and heavy-duty sectors for natural gas and propane vehicles
2. Strong growth in plug-in electric vehicles supported by state and utility incentives
3. Innovation and growth in biofuels resulting from compliance markets
4. Increased awareness and adoption of third-party leasing and ownership models for alternative fueling infrastructure
5. New approaches for fleet management
To learn more, view the recording of the webinar: http://www.icfi.com/insights/webinars/2014/recording-us-alternative-fuel-advanced-vehicle-trends
This document discusses fossil fuel subsidies and their impact on climate change. Some key points:
- Fossil fuel subsidies totaled an estimated $523 billion globally in 2011 according to the IEA. These subsidies undermine efforts to limit global warming and represent a significant drain on national budgets.
- Subsidies incentivize increased fossil fuel use and discourage investment in renewable energy. Removing subsidies could reduce greenhouse gas emissions by 12% of the amount needed to keep global warming below 2 degrees Celsius.
- Many countries, including G20 members, spend billions on fossil fuel subsidies each year through various policies. This dwarfs international climate finance commitments and sends the wrong price signals to investors regarding carbon emissions.
-
The document discusses fuel prices in India, including how fuel taxes are allocated, major oil companies, price hike trends over the last ten years, and causes of rising fuel prices from economic, social, and political perspectives. It also outlines the current effects of fuel price hikes such as stock market crashes and future consequences. Steps for the government and public to take are proposed, including investing in public transport and carpooling.
The document summarizes the results of a study that used an economic model to estimate the impacts of Egypt's economic reforms, including energy subsidy reform and currency devaluation, on different economic sectors and households from 2014-2025. It finds that the reforms negatively impact the macroeconomy in the short-run but accelerate growth long-run. Sectors are affected differently, with mining, construction and some services benefiting most. Household consumption declines, especially for rural households, but social protection programs help mitigate the impacts on the poor. The reforms are estimated to benefit the overall economy if accompanied by policies to improve labor mobility, business climate and scale up social protection.
IFPRI Egypt Seminar Series provides a platform for all people striving to identify and implement evidence-based policy solutions that sustainably reduce poverty and end hunger and malnutrition. The series is part of the United States Agency for International Development (USAID) funded project called “Evaluating Impact and Building Capacity” (EIBC) that is implemented by IFPRI.
Greetings,
Attached FYI ( NewBase Special 03 January 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• UAE: Dewa opens doors for private investment on renewable energy
• UAE: Abu Dhabi (ADWEA) hikes water, electricity tariffs, 2016
• Oman: fuel cost increase not exceed 40 baiza per litre,
• Qatar Slashes Price of LNG it Sells to India, to $6/MMBTU
• Russian Oil Output Hits Post-Soviet Record Amid Lower Price
• Finland :green light $8.7bn Russian nuclear plant order
• Philipines: Malampaya Gas Field Offshore Philippines to be Productive for a Long Time
• US:EIA improves monthly reporting of crude oil production
• Oil prices could hit record lows in 2016
• Hope lingers despite gloom on the horizon
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
The letter urges the Senate Finance Committee to continue supporting renewable energy through tax policy, which has been crucial to the growth of industries like wind and solar. It summarizes that renewable sources made up over 50% of new US power in 2014, with technologies like wind and solar experiencing major cost reductions thanks to tax credits. However, uncertainty around the extension of credits like the PTC and ITC threatens continued growth. The letter argues that permanent, consistent tax policies are needed to provide long-term market signals and make renewable energy widely available to businesses and consumers, in the same way policies have supported oil and gas.
Frank Hoffman's Presentation RE: 1603 Grant ProgramLeslie Feeney
This document provides background information on the Recovery Act Section 1603 Renewable Energy Grant-In-Lieu-Of-Tax-Credit Program. It discusses how the program was created in 2009 to promote renewable energy development when the tax equity market collapsed. The program allows developers of renewable energy projects to receive a grant from the Treasury Department for 30% of eligible project costs, instead of the federal renewable electricity production tax credit. As of November 2010, over $5 billion in grants had been awarded, with the majority going to wind energy projects. The document also discusses how Congress had previously attempted to support renewable energy through production tax credits, but their intermittent extension led to volatility in renewable energy installations.
Sasaenia Paul Oluwabunmi (submitted to the World Bank ffd MOOC)sasaeniapaul
A concise review of Uganda's Energy Sector. The presentation critically assessed the current energy installations in Uganda, major sector challenges and policy considerations. The presentation concluded with a series of proposed solutions to these identified challenges.
The document is BP's 2018 Energy Outlook, which explores scenarios for the global energy transition out to 2040. It considers a range of scenarios that differ in their assumptions about policies, technologies, and energy market developments. The main scenario, called Evolving Transition, sees global energy demand growing by one third by 2040 as prosperity increases worldwide. Renewable energy is the fastest growing source and accounts for 40% of the increase in primary energy. However, carbon emissions continue rising, indicating more action is needed to achieve climate goals.
New base 15 march 2021 energy news issue 1415 by khaled al awadi2-compressedKhaled Al Awadi
NewBase 15 March 2021 Energy News issue - 1415 by Khaled Al Awadi2.pdf
NewBase 15 March 2021 Energy News issue - 1415 by Khaled Al Awadi2.pdf
NewBase 15 March 2021 Energy News issue - 1415 by Khaled Al Awadi2.pdf
Democratic tensions, economic threats - South Africa 2015 State of the Nation...Brunswick Group
President Jacob Zuma’s eighth State of the Nation Address (SONA) lays out the priorities of government and provides us with a guide as to legislative and policy agenda and the likely general focus of Government. This note seeks to look past the political noise and analyse the implications for business.
For more information please contact our Johannesburg office: http://www.brunswickgroup.com/contact-us/johannesburg/
The budget highlights include raising import duties on refined gold, large SUVs, and tobacco. Service tax was exempted for school education. Personal income tax rates were proposed at 0% for income up to Rs. 2 lakh, 10% for Rs. 2-5 lakh, 20% for Rs. 5-10 lakh, and 30% above Rs. 10 lakh. The fiscal deficit target for FY2013 was set at 5.1% of GDP and plan expenditure was increased by 18%. Agriculture initiatives like increasing credit and irrigation were emphasized.
One of the biggest challenges for the resurgent Indian economy is the exponentially growing demand for energy. With the country's oil import bill for last financial year touching a staggering $150 billion and per capita consumption of electricity languishing at a paltry 917.2kWh, as against 3298 kWh in China and 12346 kWh in the US, energy is clearly a critical focus area for the new NDA Government.
The Government has decided to tackle this challenge proactively by focusing on the three As – access, availability and affordability – as the primary drivers to reach the goal of sustainable energy for all. Landmark reforms are being planned for energy sector policies, and some, such as the new bill for the coal sector, has improved upon a 40-year legacy with one bold stroke. The Government has also set very ambitious targets for the renewable energy sector, with 100GW of solar energy installed capacity envisioned by 2020, entailing investments to the tune of USD 100bn.
Given the significant developments underway in this sector, the November issue of Policy Watch reached out to industry leaders across the power, hydrocarbons and renewable energy sectors, to capture their views on the policy reforms being proposed by the Government, and their recommendations to ensure a sustainable and energy-secure future for the country
Presentation by Omneya Ramadan at the 7th annual meeting of the MENA Senior Budget Officials held on 10-11 December 2014. Find more information at http://www.oecd.org/gov/budgeting
The annual Energy Outlook reflects our best effort to describe a “most likely” trajectory of the global energy system, based on our views of likely economic and population growth, as well as developments in policy and technology
This 2015 edition updates our view of the likely path of global energy markets to 2035. We make assumptions on changes in policy, technology and the economy, based on extensive internal and external consultations, using a range of analytical tools to build a single “most likely” view.
The Outlook highlights the continuous change in the energy system – the changing fuel mix, the changing patterns of trade – as it adapts to meet the world’s growing energy needs. It also highlights the challenge of delivering energy supplies which are sustainable, secure and affordable. The Outlook emphasizes the role of competition and market forces in driving technology and innovation to help us meet that challenge.
Ex-ante Simulation for Fuel Subsidy Reallocation and the Expansion of a Unive...Meltem Aran, Ph.D.
Fuel subsidies lead to environmental damage through inefficiencies in energy use, they are a burden for public budget and moreover they are regressive, usually benefiting the already better off households. Despite, these negative qualities, energy subsidies are still implemented throughout the World. Post-tax energy subsidies in the World are estimated to be 5.3 trillion USD while fuel subsidies alone, are estimated to be 1.5 trillion USD, making up 1.8 percent of the global GDP in 2015. Reallocation of fuel subsidies can be an important tool for creating fiscal space for child grants in many of these countries. This paper specifically focuses on the case of Madagascar’s fuel subsidy reform. In Madagascar, the size of the fuel subsidies as of 2014 are estimated in this paper to be around 80 million. In June 2014, the government decided to eliminate fuel subsidies gradually in and the analysis in this paper was prepared to provide timely input to the policy discussion around fuel subsidy reform in Madagascar.
The paper builds an ex-ante simulation model using Madagascar’s ENSOMD 2012 data set and looks at (i) different scenarios of price hikes and the impact on the poor and (ii) models the targeting and benefit incidence of universal cash transfer for children with the budget reallocated from regressive fuel subsidy spending. The benefit incidence analysis shows that in Madagascar, fuel subsidies are highly regressive. Gasoline and diesel consumption is very rare in the households in the bottom 60 percent while kerosene is commonly consumed by households from all income groups. We find that poor households are affected the least if kerosene price remain unchanged. Nevertheless, different price increase scenarios including a change in the price of kerosene do not increase poverty by more than 1 percentage points. Reallocating the gains from the fuel subsidy reform to a universal child grant (for children ages 0-4 or 0-14) is estimated to decrease poverty rates between 2.4 to 4.6 percentage points.
The document discusses India's oil and gas subsidies and proposes reforms. It notes that subsidies disproportionately benefit the wealthy and are inefficient. It analyzes subsidies for LPG, kerosene, and diesel. While subsidies help some poor households, they are regressive overall and increase oil imports. The document proposes a reform strategy involving gradual phase-out of subsidies, monitoring impacts, and introducing policies like conditional cash transfers to support poor households during the transition. A communication campaign would explain the need for reform to minimize backlash.
This document provides information about Chile's energy sector reforms and policy transfers. It discusses how Chile heavily relied on importing fossil fuels and hydroelectric power, making its energy vulnerable. To address this, Chile implemented reforms in the 1990s, transferring policies from France to liberalize its electricity market and encourage private investment in natural gas pipelines from Argentina. This diversified Chile's energy sources but reliance on gas from Argentina also made it vulnerable to supply disruptions. The government then took steps to further develop renewable energy and ensure adequate regulations were in place to promote competition in the energy sector.
A digital copy of the Business News 24 (23 March 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
UAE to abolish fuel subsidies - other oil producers to follow suitAranca
The OPEC’s third-largest oil producer will abolish subsidies and deregulate fuel prices from August 1, 2015 in a move aimed at supporting the national economy, lowering fuel consumption, protecting the environment, and preserving national resources.
ICF International presents a post–American Recovery and Reinvestment Act (ARRA) outlook for the alternative fuel vehicles (AFV) industry and shares new trends related to plug-in electric, biofuel, natural gas, propane, and hydrogen-fueled vehicles.
The presentation outlines the top five AFV trends as identified by ICF:
1. Demand in the medium- and heavy-duty sectors for natural gas and propane vehicles
2. Strong growth in plug-in electric vehicles supported by state and utility incentives
3. Innovation and growth in biofuels resulting from compliance markets
4. Increased awareness and adoption of third-party leasing and ownership models for alternative fueling infrastructure
5. New approaches for fleet management
To learn more, view the recording of the webinar: http://www.icfi.com/insights/webinars/2014/recording-us-alternative-fuel-advanced-vehicle-trends
This document discusses fossil fuel subsidies and their impact on climate change. Some key points:
- Fossil fuel subsidies totaled an estimated $523 billion globally in 2011 according to the IEA. These subsidies undermine efforts to limit global warming and represent a significant drain on national budgets.
- Subsidies incentivize increased fossil fuel use and discourage investment in renewable energy. Removing subsidies could reduce greenhouse gas emissions by 12% of the amount needed to keep global warming below 2 degrees Celsius.
- Many countries, including G20 members, spend billions on fossil fuel subsidies each year through various policies. This dwarfs international climate finance commitments and sends the wrong price signals to investors regarding carbon emissions.
-
The document discusses fuel prices in India, including how fuel taxes are allocated, major oil companies, price hike trends over the last ten years, and causes of rising fuel prices from economic, social, and political perspectives. It also outlines the current effects of fuel price hikes such as stock market crashes and future consequences. Steps for the government and public to take are proposed, including investing in public transport and carpooling.
The document summarizes the results of a study that used an economic model to estimate the impacts of Egypt's economic reforms, including energy subsidy reform and currency devaluation, on different economic sectors and households from 2014-2025. It finds that the reforms negatively impact the macroeconomy in the short-run but accelerate growth long-run. Sectors are affected differently, with mining, construction and some services benefiting most. Household consumption declines, especially for rural households, but social protection programs help mitigate the impacts on the poor. The reforms are estimated to benefit the overall economy if accompanied by policies to improve labor mobility, business climate and scale up social protection.
IFPRI Egypt Seminar Series provides a platform for all people striving to identify and implement evidence-based policy solutions that sustainably reduce poverty and end hunger and malnutrition. The series is part of the United States Agency for International Development (USAID) funded project called “Evaluating Impact and Building Capacity” (EIBC) that is implemented by IFPRI.
Greetings,
Attached FYI ( NewBase Special 03 January 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• UAE: Dewa opens doors for private investment on renewable energy
• UAE: Abu Dhabi (ADWEA) hikes water, electricity tariffs, 2016
• Oman: fuel cost increase not exceed 40 baiza per litre,
• Qatar Slashes Price of LNG it Sells to India, to $6/MMBTU
• Russian Oil Output Hits Post-Soviet Record Amid Lower Price
• Finland :green light $8.7bn Russian nuclear plant order
• Philipines: Malampaya Gas Field Offshore Philippines to be Productive for a Long Time
• US:EIA improves monthly reporting of crude oil production
• Oil prices could hit record lows in 2016
• Hope lingers despite gloom on the horizon
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
The letter urges the Senate Finance Committee to continue supporting renewable energy through tax policy, which has been crucial to the growth of industries like wind and solar. It summarizes that renewable sources made up over 50% of new US power in 2014, with technologies like wind and solar experiencing major cost reductions thanks to tax credits. However, uncertainty around the extension of credits like the PTC and ITC threatens continued growth. The letter argues that permanent, consistent tax policies are needed to provide long-term market signals and make renewable energy widely available to businesses and consumers, in the same way policies have supported oil and gas.
Frank Hoffman's Presentation RE: 1603 Grant ProgramLeslie Feeney
This document provides background information on the Recovery Act Section 1603 Renewable Energy Grant-In-Lieu-Of-Tax-Credit Program. It discusses how the program was created in 2009 to promote renewable energy development when the tax equity market collapsed. The program allows developers of renewable energy projects to receive a grant from the Treasury Department for 30% of eligible project costs, instead of the federal renewable electricity production tax credit. As of November 2010, over $5 billion in grants had been awarded, with the majority going to wind energy projects. The document also discusses how Congress had previously attempted to support renewable energy through production tax credits, but their intermittent extension led to volatility in renewable energy installations.
Sasaenia Paul Oluwabunmi (submitted to the World Bank ffd MOOC)sasaeniapaul
A concise review of Uganda's Energy Sector. The presentation critically assessed the current energy installations in Uganda, major sector challenges and policy considerations. The presentation concluded with a series of proposed solutions to these identified challenges.
The document is BP's 2018 Energy Outlook, which explores scenarios for the global energy transition out to 2040. It considers a range of scenarios that differ in their assumptions about policies, technologies, and energy market developments. The main scenario, called Evolving Transition, sees global energy demand growing by one third by 2040 as prosperity increases worldwide. Renewable energy is the fastest growing source and accounts for 40% of the increase in primary energy. However, carbon emissions continue rising, indicating more action is needed to achieve climate goals.
New base 15 march 2021 energy news issue 1415 by khaled al awadi2-compressedKhaled Al Awadi
NewBase 15 March 2021 Energy News issue - 1415 by Khaled Al Awadi2.pdf
NewBase 15 March 2021 Energy News issue - 1415 by Khaled Al Awadi2.pdf
NewBase 15 March 2021 Energy News issue - 1415 by Khaled Al Awadi2.pdf
Democratic tensions, economic threats - South Africa 2015 State of the Nation...Brunswick Group
President Jacob Zuma’s eighth State of the Nation Address (SONA) lays out the priorities of government and provides us with a guide as to legislative and policy agenda and the likely general focus of Government. This note seeks to look past the political noise and analyse the implications for business.
For more information please contact our Johannesburg office: http://www.brunswickgroup.com/contact-us/johannesburg/
The budget highlights include raising import duties on refined gold, large SUVs, and tobacco. Service tax was exempted for school education. Personal income tax rates were proposed at 0% for income up to Rs. 2 lakh, 10% for Rs. 2-5 lakh, 20% for Rs. 5-10 lakh, and 30% above Rs. 10 lakh. The fiscal deficit target for FY2013 was set at 5.1% of GDP and plan expenditure was increased by 18%. Agriculture initiatives like increasing credit and irrigation were emphasized.
One of the biggest challenges for the resurgent Indian economy is the exponentially growing demand for energy. With the country's oil import bill for last financial year touching a staggering $150 billion and per capita consumption of electricity languishing at a paltry 917.2kWh, as against 3298 kWh in China and 12346 kWh in the US, energy is clearly a critical focus area for the new NDA Government.
The Government has decided to tackle this challenge proactively by focusing on the three As – access, availability and affordability – as the primary drivers to reach the goal of sustainable energy for all. Landmark reforms are being planned for energy sector policies, and some, such as the new bill for the coal sector, has improved upon a 40-year legacy with one bold stroke. The Government has also set very ambitious targets for the renewable energy sector, with 100GW of solar energy installed capacity envisioned by 2020, entailing investments to the tune of USD 100bn.
Given the significant developments underway in this sector, the November issue of Policy Watch reached out to industry leaders across the power, hydrocarbons and renewable energy sectors, to capture their views on the policy reforms being proposed by the Government, and their recommendations to ensure a sustainable and energy-secure future for the country
Presentation by Omneya Ramadan at the 7th annual meeting of the MENA Senior Budget Officials held on 10-11 December 2014. Find more information at http://www.oecd.org/gov/budgeting
The annual Energy Outlook reflects our best effort to describe a “most likely” trajectory of the global energy system, based on our views of likely economic and population growth, as well as developments in policy and technology
This 2015 edition updates our view of the likely path of global energy markets to 2035. We make assumptions on changes in policy, technology and the economy, based on extensive internal and external consultations, using a range of analytical tools to build a single “most likely” view.
The Outlook highlights the continuous change in the energy system – the changing fuel mix, the changing patterns of trade – as it adapts to meet the world’s growing energy needs. It also highlights the challenge of delivering energy supplies which are sustainable, secure and affordable. The Outlook emphasizes the role of competition and market forces in driving technology and innovation to help us meet that challenge.
Ex-ante Simulation for Fuel Subsidy Reallocation and the Expansion of a Unive...Meltem Aran, Ph.D.
Fuel subsidies lead to environmental damage through inefficiencies in energy use, they are a burden for public budget and moreover they are regressive, usually benefiting the already better off households. Despite, these negative qualities, energy subsidies are still implemented throughout the World. Post-tax energy subsidies in the World are estimated to be 5.3 trillion USD while fuel subsidies alone, are estimated to be 1.5 trillion USD, making up 1.8 percent of the global GDP in 2015. Reallocation of fuel subsidies can be an important tool for creating fiscal space for child grants in many of these countries. This paper specifically focuses on the case of Madagascar’s fuel subsidy reform. In Madagascar, the size of the fuel subsidies as of 2014 are estimated in this paper to be around 80 million. In June 2014, the government decided to eliminate fuel subsidies gradually in and the analysis in this paper was prepared to provide timely input to the policy discussion around fuel subsidy reform in Madagascar.
The paper builds an ex-ante simulation model using Madagascar’s ENSOMD 2012 data set and looks at (i) different scenarios of price hikes and the impact on the poor and (ii) models the targeting and benefit incidence of universal cash transfer for children with the budget reallocated from regressive fuel subsidy spending. The benefit incidence analysis shows that in Madagascar, fuel subsidies are highly regressive. Gasoline and diesel consumption is very rare in the households in the bottom 60 percent while kerosene is commonly consumed by households from all income groups. We find that poor households are affected the least if kerosene price remain unchanged. Nevertheless, different price increase scenarios including a change in the price of kerosene do not increase poverty by more than 1 percentage points. Reallocating the gains from the fuel subsidy reform to a universal child grant (for children ages 0-4 or 0-14) is estimated to decrease poverty rates between 2.4 to 4.6 percentage points.
The document discusses India's oil and gas subsidies and proposes reforms. It notes that subsidies disproportionately benefit the wealthy and are inefficient. It analyzes subsidies for LPG, kerosene, and diesel. While subsidies help some poor households, they are regressive overall and increase oil imports. The document proposes a reform strategy involving gradual phase-out of subsidies, monitoring impacts, and introducing policies like conditional cash transfers to support poor households during the transition. A communication campaign would explain the need for reform to minimize backlash.
India imports 79% of its crude oil demand and oil subsidies place a large burden on the government and oil companies. While subsidies are intended to help the poor, most benefits go to wealthier households. Recommendations include reducing subsidies gradually, targeting subsidies to the poor, increasing fuel efficiency, and establishing an independent pricing body to reduce political influence. In the long run, fully liberalizing diesel and LPG pricing could significantly reduce under-recovery costs.
This document discusses India's energy subsidies and proposes reforms. It notes that subsidies disproportionately benefit wealthy private car owners and urban populations over rural and poor communities. Subsidies are being misused and diverted, costing the country foreign exchange. The document proposes gradually reducing subsidies while implementing social safety nets for the poor. It suggests increasing domestic ethanol and biodiesel blending to reduce imports and fuel prices. Restricting subsidies to smart cards could curb black market fuel sales and targeting subsidies to the needy.
This document discusses India's petroleum product subsidies. It notes that while subsidies are intended to help the poor, they actually benefit state governments, urban populations, and wealthy individuals more. Upstream oil companies are also negatively impacted by subsidies. The document proposes several reforms to subsidies such as gradually reducing them based on income levels, decreasing taxes, improving targeting of subsidies to farmers and poor households, and enforcing regulations to prevent diversion of subsidized fuels. Overall it argues that while subsidies cannot be entirely removed, reforms are needed to minimize negative impacts and make the system more sustainable and equitable.
The Minister of Energy and Mineral Resources opened the Workshop on Fossil Fuel Subsidy Reform by welcoming distinguished guests and thanking them for their participation. In the opening remarks, the Minister discussed how fossil fuel subsidies have been a long-standing problem for developing countries like Indonesia, costing the government approximately $274 billion in 2014. To reduce this burden, Indonesia has eliminated subsidies for premium fuels while maintaining a $1,000 per liter diesel subsidy. The workshop aims to discuss recommendations for Indonesia and Mexico to reform energy pricing policies based on each country's experiences in removing fuel subsidies. The Minister declared the workshop officially open.
This document discusses energy subsidies and subsidy reform in Eastern Partnership countries. It defines subsidies and describes the methodology used to quantify them. The largest subsidies go to natural gas, heat, and electricity, dominated by regulated prices below market rates. Ukraine has the largest fossil fuel subsidies, while subsidies to energy efficiency and renewables are negligible in comparison. Some countries have taken steps toward reform, like eliminating tax exemptions, but transparency around subsidies could still be improved.
The United States government has a long history of providing targeted energy subsidies to drive economic development, totaling over $800 billion from 1950-2010. The top recipients were the oil ($369B), natural gas ($121B), and coal ($104B) industries. Currently, U.S. energy subsidies make up 5-10% of the global total and include various tax credits, R&D funding, and programs supporting utilities. Total subsidies have decreased under the Obama administration from $37.9B in 2010 to $24.2B in 2014. Many programs are entrenched in the federal budget and provide benefits like economic growth and energy independence, ensuring subsidies will likely continue.
ELECTRICITY SUBSIDY AND A JUST ENERGY TRANSITION IN TAMIL NADUAurovilleConsulting
To address climate change, to promote adaptation and resilience, to eliminate energy poverty, and to ensure a just energy transition, countries and states will have to mobilise substantial financial resources. A recent study estimated that India will need to invest a 900 billion USD over the next 30 years to ensure a ‘just energy transition’ (Bushan 2023). While developed countries have pledged to provide climate finance to developing countries, these pledges have not been fulfilled, or are very slow to arrive, or are insufficient. Developing countries will need to find additional and alternative resources to accelerate the decarbonization of its economies and to invest into climate adaptation. The United Nations (2022) has outlined a few interventions that can help in accelerating a just energy transition. These include:
to make renewable energy technologies a public good,
to shift energy subsidies from fossil fuels to renewable energy, and
to triple investments into renewables.
In 2009, G20 members committed to phasing out and rationalizing fossil fuel subsidies in the medium term (Reuters 2009). But as of 2022, fossil fuel subsidies have not been phased out, neither have they been reduced; instead, fossil fuel subsidies exceeded USD 1 trillion globally for the first time. This is largely due to governments’ increased subsidies to cushion consumers from rising energy prices (IISD 2023).
Energy subsidies are found in virtually every country. Justifications for their use range from social welfare protection, job creation, encouragement of renewable energy sources, promotion of economic development, to energy security. However, it may be worth examining some of the current energy subsidy schemes asking if and to what extent these subsidy schemes are contributing to a just energy transition and to what extent these subsidies align with the proposed three interventions by the UN.
Read the full report here: https://www.aurovilleconsulting.com/electricity-subsidy-and-a-just-energy-transition-in-tamil-nadu/
Presentation by Giorgina Albertin at the 7th annual meeting of the MENA Senior Budget Officials held on 10-11 December 2014. Find more information at http://www.oecd.org/gov/budgeting
The document discusses the effects of declining crude oil prices on the oil and gas industries in Canada and Norway. It provides the following key points:
1) Canada and Norway have both seen significant job losses in the oil and gas sector due to falling prices, with an estimated 185,000 jobs lost in Canada and 15,000 lost in Norway so far.
2) Norway is more dependent on oil and gas than Canada, with 239,000 jobs depending on the industry, but Canada has larger overall employment and population to absorb the impacts.
3) Norway has a massive sovereign wealth fund from oil revenues, but the document questions whether this money can actually be rapidly deployed to counter unemployment effects from the price drop
https://www.eia.gov/outlooks/ieo/pdf/0484(2017).pdf
International Energy Outlook 2017
World energy consumption is projected to increase by 28% by 2040, according to the International Energy Outlook 2017 (IEO2017), released today by the U.S. Energy Information Administration (EIA). Most of the world’s growth in energy demand is projected to take place in countries outside of the Organization for Economic Cooperation and Development (OECD). China and the other non-OECD Asia nations alone account for more than 60% of the projected increase in world energy demand
1) Real GDP growth in Kuwait slowed to an estimated 1.3% in 2014 due to flat hydrocarbon production and lower non-hydrocarbon investment.
2) Inflation increased to 2.9% in 2014 as population growth pushed up housing rents and demand for goods.
3) The current account surplus narrowed to an estimated 35.5% of GDP in 2014, reflecting lower oil export receipts and rising imports on domestic demand.
1) Real GDP growth in Kuwait slowed to an estimated 1.3% in 2014 due to flat hydrocarbon production and lower non-hydrocarbon investment.
2) Inflation increased to 2.9% in 2014 as population growth pushed up housing rents and demand for goods.
3) The current account surplus narrowed to an estimated 35.5% of GDP in 2014, reflecting lower oil export receipts and rising imports on domestic demand.
The document is an overview from the U.S. Energy Information Administration's International Energy Outlook 2017. It projects that world energy consumption will increase 28% between 2015-2040, with over half of that growth occurring in non-OECD Asia due to strong economic growth. The industrial sector continues to account for the largest share of energy use through 2040. Renewables experience the fastest growth of any energy source, though fossil fuels remain the primary source of global energy. Economic growth is projected to be highest in non-OECD regions, particularly Asia, driving increased energy demand.
The document argues that fuel prices in Nigeria should be further reduced to provide more benefits to consumers given the large drop in global oil prices. It notes that Nigeria saw a 10.3% reduction in petrol prices after crude oil prices fell over 50%, and that other countries saw much larger percentage price drops passed on to consumers. The document recommends an additional reduction in Nigerian fuel prices that is more commensurate with the decrease in crude oil costs. This would help lower the cost of living and allow more of the budget to be spent on important capital expenditures rather than recurring costs like governance.
Regional Experiences on Fossil Fuel Support ReformOECD Environment
This document summarizes regional experiences with reforming fossil fuel subsidies. It discusses how the OECD has measured fossil fuel subsidies through an inventory of over 800 individual support measures across 40 countries. Key findings include that total support remains high at $160 billion globally despite some recent declines. Most support is for petroleum consumption, while production measures mainly support capital and extraction. Many subsidies were introduced long ago and their continued relevance may need reassessment. Lower oil prices have helped reduce consumer subsidies but lasting reform is still required. The inventory is an online resource for policymakers to assess fossil fuel measures.
The document discusses subsidies in India, focusing on two case studies: fuel subsidies and the National Food Security Act. It provides background on subsidies in India, noting they contribute about 12% of the national budget. Fuel subsidies are analyzed in depth, outlining their advantages of supporting farmers and the poor, but also the financial burden they place on the government. The Food Security Act is summarized as aiming to provide subsidized food grains to two-thirds of Indians. Its key features and debated economic and social advantages and disadvantages are presented. The document concludes by noting subsidies have merits and demerits that the government must balance.
Similar to Fossil-fuel Subsidy Reforem by Petar Vujanovic (20)
The document discusses transparency and oversight of political party financing. It finds that financial contributions to political parties are not fully transparent and are still vulnerable to political and foreign influence. Additionally, financial reports from political parties are not always publicly available or submitted on time according to regulations.
Summary of the OECD expert meeting: Construction Risk Management in Infrastru...OECD Governance
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Using AI led assurance to deliver projects on time and on budget - D. Amratia...OECD Governance
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This document discusses different construction project delivery and payment models. It begins by outlining common delivery models like design-bid-build and design-build. It then explains different payment methods that can be used like fixed price, unit prices, and cost-reimbursable. The document also discusses pricing strategies and how they relate to risk transfer between parties. It provides details on collaborative models like early contractor involvement and discusses selecting the optimal contract based on a client's project risks, desired influence, and market conditions.
Building Client Capability to Deliver Megaprojects - J. Denicol, professor at...OECD Governance
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Procurement strategy in major infrastructure: The AS-IS and STEPS - D. Makovš...OECD Governance
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Procurement of major infrastructure projects 2017-22 - B. Hasselgren, Senior ...OECD Governance
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ECI Dutch Experience - A. Chao, Partner, Bird&Bird & J. de Koning, Head of Co...OECD Governance
This document discusses ECI Dutch experience with collaborative contracting. It mentions a McKinsey report from 2018 on collaborative contracting and recent developments in the field. Finally, it provides lessons learned from a project in Amsterdam called Bouwteam De Nieuwe Zijde Noord.
ECI in Sweden - A. Kadefors, KTH Royal Institute of Technology, StockholmOECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
EPEC's perception of market developments - E. Farquharson, Principal Adviser,...OECD Governance
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Geographical scope of the lines in Design and Build - B.Dupuis, Executive Dir...OECD Governance
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Presentation of OECD Government at a Glance 2023OECD Governance
Paris, 30 June, 2023
Presentation by Elsa Pilichowski, Director for Public Governance, OECD.
The 2023 edition of Government at a Glance provides a comprehensive overview of public governance and public administration practices in OECD Member and partner countries. It includes indicators on trust in public institutions and satisfaction with public services, as well as evidence on good governance practices in areas such as the policy cycle, budgeting, procurement, infrastructure planning and delivery, regulatory governance, digital government and open government data. Finally, it provides information on what resources public institutions use and how they are managed, including public finances, public employment, and human resources management. Government at a Glance allows for cross-country comparisons and helps identify trends, best practices, and areas for improvement in the public sector.
See: https://www.oecd.org/publication/government-at-a-glance/2023/
The Protection and Promotion of Civic Space: Strengthening Alignment with Int...OECD Governance
Infographics from the OECD report "The Protection and Promotion of Civic Space Strengthening Alignment with International Standards and Guidance".
See: https://www.oecd.org/gov/the-protection-and-promotion-of-civic-space-d234e975-en.htm
OECD Publication "Building Financial Resilience
to Climate Impacts. A Framework for Governments to manage the risks of Losses and Damages.
Governments are facing significant climate-related risks from the expected increase in frequency and intensity of cyclones, floods, fires, and other climate-related extreme events. The report Building Financial Resilience to Climate Impacts: A Framework for Governments to Manage the Risks of Losses and Damages provides a strategic framework to help governments, particularly those in emerging market and developing economies, strengthen their capacity to manage the financial implications of climate-related risks. Published in December 2022.
OECD presentation "Strengthening climate and environmental considerations in infrastructure and budget appraisal tools"
by Margaux Lelong and Ana Maria Ruiz during the 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris.
OECD presentation "Building Financial Resilience to Climate Impacts. A Framework to Manage the Risks of Losses and Damages" by Andrew Blazey, Stéphane Jacobzone and Titouan Chassagne. Presented during the 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris
OECD Presentation "Financial reporting, sustainability information and assurance" by Peter Welch during the 5th Session during the 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris
This document summarizes developments in sovereign green bond markets. It discusses approaches to incorporating environmental, social, and governance (ESG) factors into public debt management. Sovereign green bond issuance has grown significantly in both advanced and emerging economies since 2016. Green bonds make up the largest share of the labeled bond market. Major benefits of sovereign green bonds include their positive impact on creditworthiness and alignment with ESG policies. However, issuers also face challenges such as additional costs and complexity of the issuance process. Common leading practices emphasize transparency, collaboration, and commitment to reporting.
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Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
UN WOD 2024 will take us on a journey of discovery through the ocean's vastness, tapping into the wisdom and expertise of global policy-makers, scientists, managers, thought leaders, and artists to awaken new depths of understanding, compassion, collaboration and commitment for the ocean and all it sustains. The program will expand our perspectives and appreciation for our blue planet, build new foundations for our relationship to the ocean, and ignite a wave of action toward necessary change.
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For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
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Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
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This report explores the significance of border towns and spaces for strengthening responses to young people on the move. In particular it explores the linkages of young people to local service centres with the aim of further developing service, protection, and support strategies for migrant children in border areas across the region. The report is based on a small-scale fieldwork study in the border towns of Chipata and Katete in Zambia conducted in July 2023. Border towns and spaces provide a rich source of information about issues related to the informal or irregular movement of young people across borders, including smuggling and trafficking. They can help build a picture of the nature and scope of the type of movement young migrants undertake and also the forms of protection available to them. Border towns and spaces also provide a lens through which we can better understand the vulnerabilities of young people on the move and, critically, the strategies they use to navigate challenges and access support.
The findings in this report highlight some of the key factors shaping the experiences and vulnerabilities of young people on the move – particularly their proximity to border spaces and how this affects the risks that they face. The report describes strategies that young people on the move employ to remain below the radar of visibility to state and non-state actors due to fear of arrest, detention, and deportation while also trying to keep themselves safe and access support in border towns. These strategies of (in)visibility provide a way to protect themselves yet at the same time also heighten some of the risks young people face as their vulnerabilities are not always recognised by those who could offer support.
In this report we show that the realities and challenges of life and migration in this region and in Zambia need to be better understood for support to be strengthened and tuned to meet the specific needs of young people on the move. This includes understanding the role of state and non-state stakeholders, the impact of laws and policies and, critically, the experiences of the young people themselves. We provide recommendations for immediate action, recommendations for programming to support young people on the move in the two towns that would reduce risk for young people in this area, and recommendations for longer term policy advocacy.
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Fossil-fuel Subsidy Reforem by Petar Vujanovic
1. 1
Fossil-fuel Subsidy Reform
7th Annual Meeting of Middle East and North Africa Senior Budget Officials (MENA-SBO) Abu Dhabi, 11 December 2014 Petar Vujanovic
Head of Indonesia Desk OECD Economics Department
2. 2
The size of global fossil-fuel subsidies
Value of fossil-fuel subsidies
Source: IEA World Energy Outlook 2014.
Billions of dollars (nominal)
•
Around US $550 billion in 2013, or around 1% of world GDP.
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These subsidies are over four-times the value of subsidies to renewable energy and more than four-times the amount invested globally in improving energy efficiency (IEA, World Energy Outlook 2014).
3. 3
Fossil-fuel subsidies by country
Value of fossil-fuel subsidies
Source: IEA World Energy Outlook 2014.
Percent of GDP and billions of dollars, 2013
5. 5
Fossil-fuel subsidies in Indonesia
Indonesia
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Subsidies to gasoline, diesel, kerosene, LPG and electricity (heavily petroleum-dependent).
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Fixed price in rupiah. Government exposed to world price fluctuations.
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Subsidy is provided to the monopoly state-owned oil company – Pertamina, which sells fuel at the subsidised price.
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Gaps between subsidy paid and Pertamina costs have resulted in shortages and quotas.
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In 2004 Indonesia became a net importer of oil.
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Government is constitutionally obliged to “control” these sectors. And legislatively obliged to implement some sort of subsidy.
6. 6
Distribution of subsidies in Indonesia
Indonesia
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Richest 40% get 77% of subsidy and poorest 10% get 1% of subsidy.
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Two-thirds of the poor and near-poor households (bottom 5 deciles) do not directly consume gasoline whatsoever.
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10
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30
40
50
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10
20
30
40
50
1
2
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4
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6
7
8
9
10
Percentage of subsidy received
Consumption deciles
Rich
Poor
Source : Agustina et al. (2008)
7. 7
Fuel subsidies in India “Under-pricing”
India
Diesel : Rs per liter
LPG : Rs per 14.2 kg cylinder
In 2012, the government restricted household purchase to 6 cylinders per year subsidized prices. In January 2013, quota increased to 9 cylinders.
To address rising subsides, regulated retail prices were increased by about Rs 3.50 per liter in mid-September 2012. Still price is 75% of the market price. The gap between petrol and diesel prices has led to increasing substitution of diesel for petrol automobiles.
8. 8
Distribution benefits from subsidies
India
Composition of Household Fuel Expenditure by Income Group, 2009/10
Rupees per capita per month
%
9. 9
Fossil-fuel subsidies MENA
MENA
•
The Middle East and North Africa region account for about 50 percent of global energy subsidies.
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Seen as a way of sharing the country’s natural wealth (?).
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A simple way of transferring income – administratively easier than social security systems (cash transfers, direct income support, or tax rebates).
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Energy subsidies totaled over 8½% of regional GDP or 22% of total government revenues, with one-half reflecting petroleum product subsidies.
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Oil-producing countries have largest subsidies but these are often indirect – “off-budget” – “implicit subsidy”.
o
For example : state-owned oil companies retail fuel at just-above- production cost prices. No compensation provided by governments.
11. 11
-40
-20
0
20
40
60
80
100
120
-40
-20
0
20
40
60
80
100
120
Jun-86
Apr-87
Feb-88
Dec-88
Oct-89
Aug-90
Jun-91
Apr-92
Feb-93
Dec-93
Oct-94
Aug-95
Jun-96
Apr-97
Feb-98
Dec-98
Oct-99
Aug-00
Jun-01
Apr-02
Feb-03
Dec-03
Oct-04
Aug-05
Jun-06
Apr-07
Feb-08
Dec-08
Oct-09
Aug-10
Jun-11
Apr-12
Feb-13
Dec-13
Oct-14
Subsidised Diesel
Subsidised Premium
Subsidies cuts in Indonesia
Indonesia
Source: CEIC Indonesia; OECD analysis.
Some say that the end of Suharto’s 32- year presidency in 1998 was precipitated by protests that followed IMF- mandated cuts in subsidies. Cuts partly reversed before stepping down. RASKIN started.
February 2000 gas prices increased by 15%. Violent protests but not reversed.
January 2003 subsidies cut and tried to link prices to international prices. Link broken and diesel subsidy cut reversed. Compensation packages announced but many not implemented.
2004 Indonesia becomes a net importer of oil
March and October 2005 increases prompted protests.
But acceptance aided by compensation aimed at poor. And extensive public information campaign.
2008 spike in world oil prices causes large budget overrun. Again compensation for poor. Only partially reversed after oil prices came down.
Electricity subsidies for industry completely removed.
Fuel subsidies for industry completely removed.
12. 12
-40
-20
0
20
40
60
80
100
120
-40
-20
0
20
40
60
80
100
120
Jun-86
Apr-87
Feb-88
Dec-88
Oct-89
Aug-90
Jun-91
Apr-92
Feb-93
Dec-93
Oct-94
Aug-95
Jun-96
Apr-97
Feb-98
Dec-98
Oct-99
Aug-00
Jun-01
Apr-02
Feb-03
Dec-03
Oct-04
Aug-05
Jun-06
Apr-07
Feb-08
Dec-08
Oct-09
Aug-10
Jun-11
Apr-12
Feb-13
Dec-13
Oct-14
Subsidised Diesel
Subsidised Premium
Subsidies cuts in Indonesia
Indonesia
Source: CEIC Indonesia; OECD analysis.
In June 2013 the prices of diesel and gasoline were increased by 22% and 44%, respectively.
Accompanied by unconditional cash transfer to poor households.
In November 2014 the prices of diesel and gasoline were increased by 36% and 31%, respectively.
Accompanied by roll-out of social security cards that facilitated cash transfer to poor households.
2004 Indonesia becomes a net importer of oil
13. 13
Fuel subsidy reform in India
Fuel subsidy reform
•
Petrol prices were deregulated in 2010.
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Diesel prices were regulated longer - traditionally seen as a “poor man’s fuel” that powers buses, trucks and irrigation pumps used by millions of farmers.
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2012 lifted prices of subsidised diesel fuel by 14%. And then raised diesel prices by half a rupee a litre every month until prices hit market levels. Thanks to recent lower global oil prices target has been reached. Now fully deregulated.
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LPG, food and fertilisers are still subsidised.
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New Modi government plans system of direct cash transfer to recipients’ bank accounts, to curb leakages and reduce spending. To be facilitated by biometric unique ID (Aadhaar) linked to bank accounts.
o
By January 2014, Aadhaar issued to half the population (~560 million people) and already used for some pension and student payments.
14. 14
Fuel subsidy reform in Egypt
Fuel subsidy reform
•
In 2013, Egypt spent more on fuel subsides (not including electricity subsidies) than on health, education and infrastructure combined. Government deficit was estimated 12% of GDP in 2013/14.
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Petrol cost less than the cheapest bottled water.
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Smuggling estimated at 15-20% of that sold.
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Fuel subsidies increased from 9% of government spending in 2002 to 22% in 2013. When electricity subsidies are included, share is >30%.
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2005 and 2008 subsidies reduced but halted in 2008 economic crisis.
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2012 raised RON95 prices but users substituted for RON92.
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2013 plan to ration using smart-cards but not implemented.
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2014 : large increases in the prices of diesel (64%), gasoline 80 (78%) and gasoline 92 (40%) . Gasoline 95 subsidies reduced in April 2013.
o
Cut subsidy bill to around 13% of government spending.
o
Extensive communication campaign including a Presidential address.
o
No direct cash compensation but froze stable food prices and increased food subsides. Minimum wage for public servants introduced.
15. 15
Fuel subsidy reform in Turkey
Turkey
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Energy sector deregulation and price liberalization program in the early 1990s.
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An automatic fuel pricing mechanism was adopted in 1998, with responsibility for its implementation transferred to the independent Energy Market Regulatory Authority in 2003.
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The success of the reforms has been attributed to the broad public support generated by the government for economy-wide structural reforms as well as the strong macro-economy with high growth and low inflation.
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Expenditures on existing targeted social safety net programs were also scaled- up, including a targeted cash transfer program.
16. 16
Fuel subsidy reform in Iran
Fuel subsidy reform
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In 2000s, subsidised price fixed at around 5% of world price (~US$0.10 per liter).
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Subsidies lead to smuggling on a massive scale (estimated 17% of production). Gasoline imports needed.
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Rationing introduced in 2007 with smart cards.
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2010 five-year reform announced.
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First phase included direct payments of about $45 per month per individual - everyone. Directly transferred back to people’s bank accounts. Up to 50% of the income of a family in the bottom decile.
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High rates of inflation due to increase in price of commodities and increased purchasing power of the poor. But also sanctions and large depreciation.
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2012 second phase postponed. Cash transfers were to be targeted to poor.
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2014 subsidies cuts. Prices up by 75% (but still around 15% of world prices). Cash transfers were annulled and household needed to reapply in the hope of better targeting (75% did).
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The rationale for reform
The rationale for reform
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Government budgets – high opportunity cost : Alternative uses of government revenues have a much higher social return, especially in the longer term. Infrastructure, education, and health care, for example.
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Better means of achieving social welfare objectives : Can be thought of as a government transfer. But very badly targeted.
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Energy security : Excess demand and limited supply. Works against diversification of energy supply.
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New technology : Inhibits upgrading to more efficient technologies (eg. more efficient cars).
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Overinvestment in capital/energy intensive industry – rather than in job-creating industries.
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Worsens negative externalities : Excess demand : CO2 and other pollution, congestion etc. Inhibits investment in other “cleaner” energy sources like geothermal, biofuels, and other renewables.
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Other economic distortions : Smuggling, diversion, racketeering, scamming, black markets, corruption.
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Monopoly SOEs often implement subsidies and receive compensation. This masks inefficiencies and low productivity.
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Reform strategies
Implementing reform
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Second best is to move to a system that sets prices automatically according to the market (perhaps fixed subsidies), and disassociate price-setting from political decision making.
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Reforms should be part of a comprehensive package that includes preparation, communication, and compensation.
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Build support for reform :
o
Transparency about subsidies is vital to build support for reform.
o
Governments need to communicate why reform is a structural change for the better.
o
Identify the opportunity cost of subsidies – healthcare, education etc.
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Sequencing cuts in small steps.
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Compensation : Compensation needs to precisely targeted, or across the board for political reasons? Middle and upper income households are most (directly) affected.
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Eventually move to applying an excise tax on fossil fuels – to fund roads (indirect user-pays) and cover negative externalities.
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Barriers to reform
Implementing reform
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Political opposition from those that most benefit from the subsidy – net losers (or those that perceive themselves as net losers – middle class).
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Adverse impact on the poor.
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Lack of understanding or information. What is the upside to reform for the general public?
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Lack of government creditability. Public prefers what they have now rather than what the government promises of reform.
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Technical or administrative capacity to implement reform – eg. to put in place a cash-transfer scheme - complex.
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Macroeconomic impacts : inflation (wages), international competitiveness.
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Weak macroeconomic conditions often oblige reform of subsidies to address fiscal crisis (Egypt). But especially difficult time to do it.
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Communication strategies
Implementing reform
Reform should be preceded by a public information campaign highlighting the motivation for reform.
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The campaign should highlight rationales for reform.
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Compensation package is part of communication campaign.
o
Indonesia : 2005 reforms included public information campaign: newspapers, TV talk shows, village notice boards, pamphlets and brochures, as well information provided with Energy Compensation Card. 2014 reforms widely discussed during the election campaign including coordination between outgoing and incoming administrations. Even text messages explaining the new policy.
o
Egypt : July 2014 reforms (64% increase in diesel prices) involved an intensive PR campaign by the government, including direct daily involvement by the President.
o
India : Committees appointed to assess how best to address the issues raised by fuel subsidies (2006, 2010, 2011, 2012).
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Compensation strategies
Implementing reform
Better targeting of fuel subsidies
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Thailand “Energy Card” is an example. But restricted to taxi drivers and other commercial drivers etc. Development and implementation of targeted mechanisms that protect poor and vulnerable consumers from higher energy prices as they rise is critically important.
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Need to be able to scale up during economic shocks or provide mitigation against adverse impacts of subsidy reform.
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Avoid weaknesses, including fragmentation and poor coordination, poor targeting, and low poverty impact.
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Targeted cash transfers.
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Or across the board compensation for political reasons.
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A unified registry of poor households and/or sophisticated electronic smart card systems.
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Compensation strategies (2.)
Implementing reform
Indonesia
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Subsidized rice (RASKIN) introduced in 1998 as part of wider reforms including fuel subsidy cuts.
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2005 reforms included a series of unconditional monthly cash transfers targeted at low income households (BLT) : ~20 million households eligible for “Energy Compensation Card”.
o
Four quarterly disbursements of 300,000 Rupiah (Rp) (around 30 USD) to the poorest 30 per cent of households.
o
2005 reforms provided the means to a establish nationwide registry of poor households (PSEP05) to better target compensation. This is now being expanded for use for targeting all social security programmes.
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2014 reforms compensation facilitated by rollout of social welfare cards which included cash payment to poor households.
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Compensation strategies (3.)
Implementing reform
An example of issues with compensation - RASKIN in Indonesia
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Mandate to provide subsidized rice to households in the bottom 30 percent of the income distribution.
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In 2011, over three million tons of subsidized rice distributed (US$1.5 billion). It is the largest social assistance program in Indonesia, accounting for 53 percent of all social assistance expenditures.
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In practice, however, eligible households receive only one-third of the amount of rice they are eligible to receive and at a cost that is 25 percent higher than their entitled subsidy.
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Leakages are also high: nearly 70 percent of households that purchase subsidized rice are non-poor.
o
Research suggests that the village leaders, who are responsible for distributing the subsidized rice to eligible households, frequently distribute rice evenly to all households in their communities, rather than distributing it only to poor households, in order to maintain social cohesion.