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Bjorn Lomborg

Get the facts straight

The IMF’s Huge Miscalculation of Energy Subsidies

2020-01-17

Over the past year, climate campaigners didn’t grow tired of claiming that the fossil fuel industry received “a whopping $5.2 trillion in subsidies” in 2017, equivalent to 6.5 percent of global GDP. Quoting an International Monetary Fund (IMF) report that suggests the US alone wastes $649 billion annually, Rolling Stone declared that “the United States has spent more subsidizing fossil fuels in recent years than it has on defense spending.“

Published by:

Forbes

Category:

Articles

Language:

English