Prices Fail to Reflect Fossil Fuels’ Real Costs

Climate News Network: Forget the price of petrol at the pumps. The true cost of any fossil fuel is much greater if social costs are factored in, according to new research. A climate scientist in the US reports in Climatic Change journal that American motorists get a gallon of gasoline for at least $3.80 less than it really costs, and the price of coal-fired electricity would quadruple if consumers had to pay the real price. In contrast, solar and wind power are much cheaper than they might seem. Professor Drew Shindell,......

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