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Fossil Fuel Subsidies to Hit $5.3T in 2015, Says IMF Study

2015-05-19 14:46:00| Climate Ark Climate Change & Global Warming Newsfeed

RTCC: Subsidies for fossil fuels that cause climate change have soared since 2013, a new study from the International Monetary Fund has revealed. Oil, gas and coal costs will be subsidised to the tune of US$5.3 trillion a year in 2015. The last time the IMF ran the data it calculated they were worth $1.9 trillion. Economists say the latest figures are more accurate as they represent the true cost of energy, which includes the environmental, health and climate impacts of burning fossil fuels. Over...

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