Friday, September 4, 2009

Source: U.S. Wants End to G-20 Fossil Fuel Subsidies

The United States plans to call on the Group of 20 to eliminate fossil fuel subsidies in five years and increase oil market transparency when the group meets at the end of the month.

A person familiar with the proposal, who asked not to be named, tells Reuters that the government intends to argue fuel subsidies distort oil and product markets and artificially raise fuel demand, leading to higher...

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