Christian Science Monitor: The world spent $1.9 trillion in energy subsidies in 2011. It was not money well spent, according to the International Monetary Fund (IMF).
The subsidies reinforce inequality by disproportionately benefiting the wealthiest, largest consumers of energy, according to a report released Wednesday by the global economic organization. Eliminating them would ease budgetary pressures on cash-strapped governments and slow global carbon emissions, the report finds.
"Subsidies cause overconsumption of...