IEA: China must reduce its energy subsidies
The International Energy Agency (IEA) recently called on China to expedite the reduction of subsidies on electricity, gasoline and diesel.
During an interview with the Wall Street Journal, Nobuo Tanaka, the executive director of the IEA shared his agency’s concerns about China’s under-priced energy resources:
In the short term it is very difficult to predict the oil price or the energy price, but we know in the longer term the cheap-energy age is over. [the IEA] strongly recommends to this government phasing out fossil fuel subsidies.
We started making this same point three years ago: A 2007 report commissioned by the Alliance for American Manufacturing (AAM) showed that the Chinese government has exponentially boosted its steel output in the past decade through massive, trade-distorting energy subsidies. It’s about time the IEA stepped up its efforts to thwart these damaging practices.
Related recent Blogs
- RADIO: AAM's Scott Paul on Leslie Marshall Radio Show, May 20, 2013 • by scapozzola • 05/21/2013
- Shoring up our security means addressing the China challenge • by mmcmullan • 05/20/2013
- Quote of the Day from Caterpillar's Doug Oberhelman • by LDonia • 05/20/2013
- President Obama visits Baltimore factory to promote infrastructure investment as a means of revitalizing the middle class • by LDonia • 05/17/2013
- Five reasons you should be concerned about the U.S. military's reliance on foreign manufacturers. • by LDonia • 05/16/2013
- Looking for a manufacturing job? Consider heading to one of these ten metro areas! • by mmcmullan • 05/16/2013
- National Retail Federation dismisses global safety plan for garment factories while Cambodian shoe factory collapses. • by LDonia • 05/16/2013
- OPINION: Aren't we better off buying safe, Made-in-USA products? • by scapozzola • 05/16/2013
- May 16, 2013 Headlines: factory collapses in Cambodia, U.S. retail industry dismisses plan for safer working conditions, & more • by LDonia • 05/16/2013
- U.S. Senate Passes Water Resources Development Act (WRDA) with Buy America Amendment Included. • by scapozzola • 05/15/2013