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Governments Spend Over $450 Billion Annually to Subsidize Fossil Fuels

Inside Climate News: “The governments of the world’s 20 largest economies spend more than $450 billion annually subsidizing the fossil fuel industry, a new analysis has concluded, four times more than what they spend on renewable energy.” “The report by Oil Change International, a Washington-based advocacy organization, and the Overseas Development Institute, a British research group, calculates the amount of money the G20 nations provide to oil, gas and coal companies through tax breaks, low cost loans and government investments.”
Topics: wonk-wire