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Global Dividend Subsidy Swap

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Open Oil

on 12 February 2013

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Transcript of Global Dividend Subsidy Swap

How Does a Dividend Subsidy Swap Work? fossil fuel subsidies favour the rich ...the DSS will phase out subsidies on products that are more consumed by the poor over a longer period of time in each country the level of subsidization of each fuel product is different NORMALLY, cutting subsidies triggers prices rises... but makes people ANGRY! $7 $11 $16 of $100 spent on fossil fuel subsidies the poorest 20% receives $7 and the richest 20% receives $43 $23 $43 Example from Egypt (Abouleinein et al. 2009) energy consumption patterns of each income group are different kerosene & LPG Gasoline diesel, fuel oil
& natural gas if $$$ is paid out at the level of the costs of the subsidy cuts for the median person.... BUT... everyone below the median is better off on balance... bringing $$$ into the Treasury... $7 $11 $16 $23 $43 0 % +1% +2% ...the rich are a little worse off 0 % -1% -2 % ...the treasury saves money ...policy magic!
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