business

Japan's oil subsidy may be upped fivefold due to Ukraine crisis

24 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© KYODO

©2022 GPlusMedia Inc.

24 Comments
Login to comment

Why subsidy, Japan government already try to hard increase inflation. Finally now price is going up now.

https://abc17news.com/news/2021/12/17/inflation-a-worry-for-most-economies-but-not-japan/

-2 ( +3 / -5 )

Reading this article, two questions come to mind. One, why the need for a subsidy if so-called "free market" neoliberal capitalism, the ideology of deregulation and competition that dominates our world, is so wonderful? Two, why are there so many subsidies for life-killing fossil fuel and nuclear businesses and investments and so few for sustainable alternative energies?

5 ( +8 / -3 )

The industry ministry launched the program late last month to prevent oil distributors and importers from passing on higher wholesale prices to consumers, as concerns over tighter supplies were growing globally even before Russia's invasion of Ukraine on Thursday.

Calling the pigs to the trough. So are the companies profits to remain static? Higher costs are immediately passed on to the customer or balanced by subsidies to the public but what if additional profits are made? Are those returned to the public? Or government?

Like with the pandemic subsidies, and bank bailouts, yet again privatized profits, socialized losses. The Ukraine conflict another example of disaster capitalism. These disasters and profiteering are coming so fast and furious nowadays I wonder when the public will be getting tired of it?

6 ( +8 / -2 )

Let me get this straight. The gov't doesn't like the inflation caused by high oil prices, so it will borrow (ie BOJ will print) the money to lower the price of oil.

What a clever idea. Lol.

4 ( +8 / -4 )

Just cut the amount of tax that is levied on gasoline for a 3 month period. But you see, once you cut taxes it is much harder to raise them, so the government will go to any length to try and keep the taxes at the same level. Also with gas being so high, they are getting more tax revenue as we also pay consumption tax on top of the other taxes levied!

3 ( +5 / -2 )

Alright, we are going to see USD over 120 JPY this year. Japan's GDP is going to sink below 5T USD again. The lost decade is now a lost quarter-century.

3 ( +7 / -4 )

Japan government already try to hard increase inflation.

Because this is cost push inflation (which can lead to stagflation) and the desired inflation is demand-led.

why the need for a subsidy if so-called "free market" neoliberal capitalism...is so wonderful?

It's only "wonderful" when it makes billionaires and corporations more wealthy (and communists more powerful).

1 ( +3 / -2 )

money from taxpayers will go to right pockets...

2 ( +4 / -2 )

"Free markets" .. Only for a certain few. But anyway, on it goes...

2 ( +4 / -2 )

Whatever the case LDP always finds a way to benefit companies more than the consumers. How about cutting the gasoline tax for 6 months and be done with it? Nah, can't loose the revenue, it's needed for the next pork transfer to their buddies.

Calling the pigs to the trough. So are the companies profits to remain static? Higher costs are immediately passed on to the customer or balanced by subsidies to the public but what if additional profits are made? Are those returned to the public? Or government?

Exactly.

2 ( +6 / -4 )

Oh there's a war going on what a perfect exuse to raise prices but try to say its cheaper and Japan is in control of the resource.

Not !

-2 ( +4 / -6 )

Don’t even can afford a car, but have to pay your cheaper gasoline by taxes? Seems there are quite some more who prefer a ‘war’. But no, finally certainly all become even better friends now…

-3 ( +0 / -3 )

If you drive a Maserati or a gas guzzler you don’t need government support.

4 ( +5 / -1 )

Let's send this bill to United States and NATO they were the ones who started this mess.

-2 ( +1 / -3 )

Two opposite things needed here,

Short term is relief to ensure people can afford the energy they need in their daily lives, i.e., the government encouraging consumption. Its winter and we do not want old people to freeze in their homes.

Long term is drastically reducing Japan's the amount of energy needed and Japan's dependency on other parts of the world to provide it, i.e., drastically discouraging consumption. Do this with efficiencies like eco-homes and smaller cars and there is no lifestyle hit.

-1 ( +1 / -2 )

The politicians much like king Canute are fighting a losing battle.

-5 ( +0 / -5 )

Give up your gasoline car , kill your television ,release yourself from the fb parasite and ride a bicycle or walk.

Enjoy the simple things in life.

-3 ( +1 / -4 )

Give up your gasoline car , kill your television ,release yourself from the fb parasite and ride a bicycle or walk.

Enjoy the simple things in life.

I agree, I ride trains, buses, and also walk. But whenever and wherever I walk even 10 minutes to a train station, I breathe the toxic fumes of cars and trucks, and know I am at greater risk of paying a health price so Putin, MbS, MbZ, and the globe's other oil barons and their financiers can build more palaces, buy more luxury yachts and sports teams. And also buy more politicians so the barons can maintain their wealth and power, plus pass laws and regulations, making it easier for them to increase their wealth and power.

-3 ( +1 / -4 )

If only the government was able to get behind the electrification of vehicles? Would reduce the need for subsidies. And, reduce Japan’s dependence on fossil fuels.

-4 ( +0 / -4 )

Japan is stuck in the 1970’s. Free market neoliberal reforms would have seen these crazy big socialist government subsidies abolished decades ago.

WE are the ones who pay for these subsidies, not Putin or the Arab sheiks or Santa or the tooth fairy.

-2 ( +0 / -2 )

I guess I'll just have to drive slower now.

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites