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The inefficacy and inequity of fossil fuel subsidies is clearly evident. Still, even by 2014, large subsidies on the domestic consumption of fossil fuels continue to be used in many nations.

Fuel subsidies in Egypt have resulted in prices of fuel that are less than the cheapest bottled water. As a result, subsidies amounted to $17 billion in 2011, or about 11% of GDP. Fuel subsidies in Nigeria were fully 20% of the Federal Budget in 2011. The government of Brazil compels the SOE PETROBRAS to cap fuel prices at levels well below their costs of production. When subsidies are reduced, by increases in fossil fuel prices, as in Brazil in 2014, the changes have tended to be minimal. In that year, Brazil increased diesel prices by 5% and gasoline by 4%.

However, in spite of past timidity in reducing subsidies, a welcome trend has been developing. Other countries that have used heavy subsidies on energy include Ghana and India (diesel fuel only). Both nations in 2014 were in the process of phasing out the subsidies. The Philippines, Malaysia, and Uganda also have sharply reduced fuel subsidies in recent years, as did Iran in 2014. The Ugandan and Indonesian programs are especially notable because they cushioned any adverse impact on income distribution by subsidies with cash payments to the poor, much like the conditional cash transfer programs used so successfully in Brazil and Mexico to promote human capital formation (see Chapter ___).

Nevertheless, worldwide, fossil fuel subsidies rose sharply from 2008 to 2012, reaching $400 billion in that year. Since then, owing partly to changes in Ghana, India, Uganda and Iran the cost of subsidies worldwide has declined slightly, amounting to about $375 billion in 2014, Source: “Price Squeeze”, The Economist , June 14, 2014. of which 83% was due to emerging nations.

Future sources of hydrocarbons for emerging nations

By 2025 with only one or two exceptions, the large state-owned oil companies in emerging nations will, in all likelihood, not find large new oil and gas reserves. State-owned firms in Russia, Mexico, Venezuela, Indonesia, and India lack the technology and often the capital to find and extract oil in shale formations or in deep onshore or offshore reservoirs. The possible exception could be Petrobas in Brazil. There, large promising new deep–water discoveries have been made. These are the famous pre-sal deposits, lying as deep as 10-12 thousand feet below the ocean floor (pre-sal means deposits hidden under very thick layers of salt). Until about 2005, oil exploration technology could not detect these deposits. This changed with advances in seismic methods of exploration. If all these deposits are ever tapped, the results will provide huge amounts of natural gas for Brazil.

In any case, furnish the best hope for finding and exploiting oil and gas deposits under the soils or seas of emerging nations. Two such technologies are presented here: horizontal drilling coupled with “fracking” and new techniques for reaching deepwater oil deposits.

Questions & Answers

what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
How we are making nano material?
what is a peer
What is meant by 'nano scale'?
What is STMs full form?
scanning tunneling microscope
how nano science is used for hydrophobicity
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
what is differents between GO and RGO?
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
The nanotechnology is as new science, to scale nanometric
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
what school?
biomolecules are e building blocks of every organics and inorganic materials.
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
sciencedirect big data base
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
characteristics of micro business
for teaching engĺish at school how nano technology help us
How can I make nanorobot?
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
how can I make nanorobot?
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
what is the actual application of fullerenes nowadays?
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
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Source:  OpenStax, Economic development for the 21st century. OpenStax CNX. Jun 05, 2015 Download for free at http://legacy.cnx.org/content/col11747/1.12
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