The world is waking up to the $5.3 trillion cost of fossil fuels
25 May 2015
By JOHN QUIGGIN.- Prospects for global energy markets have been reshaped by two recent pieces of news, one of which helps to explain the other.
The first is a report from the International Monetary Fund estimating that global fossil fuel use is subsidised to the tune of US$5.3 trillion a year (6.5 per cent of global GDP).
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