It will take a combination of clever carbon pricing and a much higher direct subsidy to deliver the oxymoron of 'clean coal'.

For passenger operations, a direct subsidy may be paid to a public-owned operator, or public service obligation tender may be helt, and a time-limited contract awarded to the lowest bidder.

This can be through tax cuts of various forms or direct subsidies.

We tried industrial policy based on direct subsidies.

The amount includes direct subsidies as well as the indirect benefit of being able to borrow money more cheaply because they are 'too big to fail'.