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Energy subsidies top $6.6 trillion, lift carbon emissions by fifth: IMF study

2015-05-19 22:51:00| Climate Ark Climate Change & Global Warming Newsfeed

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,...

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