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The IMF says we spend $5.3 trillion a year on fossil fuel subsidies.
2015-05-21 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Vox: This week, the International Monetary Fund put out a big report claiming the world spends $5.3 trillion a year subsidizing energy, mainly fossil fuels. That's an eye-popping number. And it led to plenty of outraged headlines: Look at all that money we're forking over to Big Oil! That's $10 million every minute! What's more, the IMF noted that if we yanked away all these "subsidies," global carbon dioxide emissions would drop 20 percent -- a huge step toward dealing with climate change. The only...
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Category:Electronics and Electrical