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$5.3 trillion cost of fossil fuels

In The Conversation (22.5.15) John Quiggin reports on the IMF report that has estimated that global fossil fuel use is subsidised to the tune of $5.3 trillion a year (6.5% of global GDP).

He suggests that the coal boom in Australia that is now fading will never be repeated, and argues that for the future, it is our nearly unlimited capacity to generate wind and especially solar power that is likely to be our biggest energy asset.

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