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The Times

We pay billions to subsidise Australia’s fossil fuel industry. This makes absolutely no economic sense

  • Written by Richard Denniss, Adjunct Professor, Crawford School of Public Policy, Australian National University
We pay billions to subsidise Australia’s fossil fuel industry. This makes absolutely no economic senseShutterstock

Fossil fuel subsidies from major economies including Australia reached close to US$700 billion in 2021, almost doubling from 2020, according to new analysis by the International Energy Agency and OECD.

These subsidies are expected to keep rising in 2022 as governments worldwide attempt to use fossil fuel subsidies to shield customers...

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