Does subsidizing energy reduce the incentive to economize?

” Worldwide, the amount of energy employed to produce a unit of gross domestic product fell by 0.4 percent a year from 2000 to 2010, according to theInternational Energy Agency. Last year and the year before, the annual declineaccelerated to 1.5 percent. Looking ahead 20 years, though, the IEA (in effect, a club of energy ministers) estimates that two-thirds of the potential for energy efficiency will remain unexploited.”— Bloomberg News

 

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