Age: The world subsidises energy consumption to the tune of more than $200,000 per second, with about 60 per cent of that going to support coal, according to researchers at the International Monetary Fund.
In a paper published by the IMF, the authors found that energy subsidies are much more than previously estimated. These will rise to $US5.3 trillion ($6.6 trillion) in 2015, or about 6.5 per cent of total global output.
For some developing nations, such as in the former Soviet Union and Pakistan,...