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Thanks to Big Oil, Your Tax Dollars Are Spent Ruining the Climate

Ted Soqui/Sipa USA/AP About $11 million a minute. That’s the amount of direct and indirect subsidies the International Monetary Fund calculates the global fossil fuel industry receives to ensure that cooking the planet remains profitable for them. If you do the math, it comes to about $5.9 trillion a year. As The Atlantic’s Robinson Meyer has pointed out , only $826 billion of that comes from actual price cuts or tax breaks. The rest is calculated from damages caused from the environmental and health costs of carbon pollution. But that’s sorta the point. This is an antiquated industry that […]

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