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Climate guru: Germany spending $110B to stall global warming 37 hours

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Germany is spending billions of dollars to combat climate change, but the money is largely wasted, one global-warming expert said. The county's efforts will turn back the hands of time by only 37 hours, he said.

"The Germans are spending about $110 billion on subsidies for these solar panels," said Bjorn Lomborg, a Danish author and environmental analyst, on a broadcast interview with John Stossel. "The net effect of all those investments will be to postpone global warming by 37 hours by the end of the century."

Mr. Lomborg is not a global-warming denier.

"Global warming is real," he said to Mr. Stossel, "and we need to fix [it]. But we should fix it smartly, and not in a very, very costly way, as we're doing it now. Germany is probably spending $660 for every ton of CO2 they're cutting."

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