A new report finds exploration by coal and energy companies is subsidised by Australian taxpayers by as much as $US3.5 billion ($4 billion) every year in the form of direct spending and tax breaks.
The report, "The Fossil Fuel Bailout", by the Overseas Development Institute and Oil Change International estimates that G20 countries are subsidising oil, gas and coal explorers to the tune of $US88 billion ($100 billion) annually through grants, loans, and tax deductions.