[eej71]

Not sure I understand how they can be both highly subsidized and yet highly taxed at the same time.

[option_greek]

Some sections of society might be subsidized (poor, inputs to fertilizer industry etc) but overall the price of gas is quite high (India: $4.18 per gallon, Brazil: $4.30). Its almost at same level as California and without any activism.

During the oil highs of 2011-2012, prices reached as high as $5.5 per gallon.

[SuoDuanDao]

extraction companies are taxed or owned outright, end products are subsidized.

[eej71]

Sounds like it will just net out.

[SuoDuanDao]

Only if you tend to use as much as you produce. If you're a net exporter, it pays for a lot.