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Fossil fuel subsidies made for an eyebrow-raising 6.5 percent of the global GDP in 2015, or about $5.3 trillion. This revelation on behalf of the International Monetary Fund was reported by four economists, and published earlier this year in the World Development journal. The study took a broad approach, factoring how subsidies arise when consumer […]

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As Americans focus on a contentious presidential election between diametrically opposed candidates, an issue that’s challenged the last eight presidents combined remains, and this is its “addiction” to its monopoly energy source, petroleum. Since President Richard Nixon, the call for “energy independence” has been described as having potential to profoundly shape the U.S. economy, culture, […]

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Last year the governments of the world reportedly “subsidized” fossil fuels to the tune of $5.3 trillion last year, or $10 million per minute. This figure reported by The Guardian after culling the data from a working paper published last May by writers working with the International Monetary Fund also equates to $14.5 billion per […]

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