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b_b · 3602 days ago · link · · parent · post: Why carbon taxes would be the ultimate energy game changer
Gulp.The IEA reckons the annual value of direct subsidies to the fossil fuel industry runs over $500 billion. An IMF working paper released this month (How Large Are Global Energy Subsidies?) figures that the “Post-tax energy subsidies are dramatically higher than previously estimated—$4.9 trillion (6.5 percent of global GDP) in 2013, and projected to reach $5.3 trillion (6.5 percent of global GDP) in 2015.”