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IMF Rejects Fossil Fuel Subsidies, Calls for Reform

2013-04-22 03:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Climate News Network: Fossil fuel subsidies provided by both rich and poor countries to keep their citizens happy are holding back the world economy, accelerating climate change and damaging the health of current and future generations, according to the International Monetary Fund. The worst offender of all is the United States, which allows annual subsidies of $502 billion on fossil fuels. China with $279 billion and Russia at $116 billion are the two next largest offenders. The IMF researched 176 countries to...

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