"IMF Says Energy Subsidized By $5.3 Trillion Worldwide"

"Governments around the world charge prices for energy that do not account for its harmful environmental, health and other side effects, amounting to a $5.3 trillion "post-tax" subsidy this year, the International Monetary Fund said in a report on Monday.

The IMF said China in particular failed to charge its more than 1 billion consumers for the pollution that comes from heavy use of fossil fuels, adding up to a $2.3 trillion subsidy this year.

The United States was the second-biggest offender, with an estimated $699 billion subsidy, followed by Russia, the European Union, India and Japan."

Anna Yukhananov reports for Reuters May 18, 2015.

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"Fossil Fuels Subsidised By $10M a Minute, Says IMF" (Guardian)