Ax fuel subsidies to promote growth, UNDP says

04/16/2012 | AlertNet

The lessons after the collapse of the Soviet Union show that the elimination of fossil fuel subsidies could not only reduce the levels of greenhouse gases, but provide a blueprint for more sustainable development that reduces inequality, waste and the overuse of natural resources, according to a report by the UN Development Program. "Right now, we are on an unsustainable path, and at some point that will be obvious to everyone," said Balazs Horvath, lead author of the report. "When pressures are imminent enough, politicians will begin scrambling around to do something. And at that point, luck favors the prepared."

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