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Oil

Energy watchdog urges end to fuel subsidies

By Carola Hoyos in London

Published: June 3 2008 03:19 | Last updated: June 3 2008 03:19

The developed countries’ energy watchdog on Monday derided fuel subsidies as an unsustainable economic burden that should be scrapped, adding pressure to governments, particularly in Asia, to change policies.

“We are always recommending to these countries that we should move towards market forces to control the level of demand,” Nobuo Tanaka, the head of the International Energy Agency, said.

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