Coal subsidies are costing US and Australian taxpayers billions of dollars a year, according to a new report.
The research examined the subsidies given to coal production in the US’s largest coal field – the Powder River Basin and found they totalled $2.9bn (£1.9bn) a year. This equates to $8 per tonne – almost 25% of the sale price.
Ending the subsidies would lead to cuts in coal use equivalent to shutting up to 32 coal-fired power stations – the researchers found – leading to a large reduction in carbon emissions.
(ed:..dunno how much this year – but in 2013 the nz taxpayers/govt were pissing $46 million down the gurgler in coal-industry subsidies..surely we ‘can’t afford’ that..?..eh..?..)