For example, it subsidises its refiners when global oil prices rise above $130 a barrel so they can keep fuel prices affordable. UNITED STATESU.S. fossil fuel subsidies stretch across the U.S. tax code, which makes detailing their costs complex. President Joe Biden, a Democrat, has proposed axing fossil fuel subsidies in his annual budget, largely a political document used in negotiations with Congress. MIDDLE EASTOil and gas producers in the Middle East including Qatar and Saudi Arabia had some of the highest fossil fuel subsidies per person, IMF data showed. CANADAEarlier this year Canada unveiled plans for eliminating inefficient fossil fuel subsidies.

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Persons: Navesh, Joe Biden, Sarah McFarlane, Timothy Gardner, David Stanway, Jan Harvey Organizations: REUTERS, International Monetary Fund, EU, IMF, Nanjing Audit University, UNITED STATES, One U.S, Taxation, Democrat, Representatives, International Institute for Sustainable Development, EAST, Thomson Locations: Lalitpur, Nepal, Glasgow, Dubai, EU, Ukraine, CHINA, China, U.S, One, RUSSIA, India, Russia, East, Qatar, Saudi Arabia, Canada