All Subsidies Are Stupid

but gas subsidies are among the worst. That’s the message of this editorial from Bloomberg:

Nations from the U.S. to the U.K. to Russia continue to spend billions on tax breaks and other subsidies for the production of oil, gas and coal. Japan, South Korea and China support massive fossil-fuel projects outside their borders. For years, many countries — including some of the world’s biggest energy producers — have also used subsidies to lower gasoline and diesel prices, supposedly to help the poor.

Read the rest here…