UN Says Global Fuel Subsidies Could Top $1 Trillion
Fuel subsidies amid the oil price shock could exceed $1 trillion this year, the United Nations said, warning that many governments are running out of fiscal resources to sustain subsidies, fuel tax reductions, or price caps. Estimates in a United Nations Development Programme (UNDP) report suggest
Source: OilPrice.com
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DW NOTE
The UN counts subsidies governments hand to consumers. It doesn't count the cost of keeping the Strait of Hormuz closed for 218 days while crude falls 19% and central banks hike into a supply crunch. Call that the subsidy paid by savers to underwrite someone else's war.