|'Subsidies for fuels have cost the nation more than 20 trillion pesos.'|
|Polluting on the public dole.|
A recent report by the government's Mining & Energy Planning Unit calculated that between 2008 and August 2014, Colombia spent 20 trillion pesos subsidizing gasoline and diesel fuels. That's as much money as it plans to spend on the National Development Plan (PND) between 2014 and 2018.
|Should Colombia really subsidize this?|
So, fuel subsidies are not only terrible for the economy, but also an inequitable shift of money that should help the poor, to wealthy car and truck owners. Fuel subsidies are bad for cities, for the environment and the economy. But the government fears the protests which raising the price brings.
I can't help observing that, as destructive as Colombia's subsidy is, it's tiny compared to neighboring Venezuela, which is driving itself bankrupt spending about 15% of its GDP subsidizing fuels down to a few cents per gallon.
|Take a whiff of that subsidized smoke.|
|Idling away the nation's wealth.|