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Our US$10 trillion global energy bill dwarfs what’s needed to limit global heating

By Stephen Peake, Professor of Climate Change and Energy, The Open University

The world’s energy bill for 2022 is set to be the highest ever, topping US$10 trillion (£8.3 trillion). This is the total price paid for all forms of energy across all sectors by all people. Something like 80% of this bill is for coal, oil or gas, or for electricity generated from these fossil fuels.

Our addiction to energy is equivalent to more than 10% of global GDP.…

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