A quote from an article from EESI – Environmental and Energy Study Group. Such an enormous amount of money in only a single year!
“”There are many kinds of costs associated with fossil fuel use in the form of greenhouse gas emissions and other pollution resulting from the extraction and burning of fossil fuels. These negative externalities have adverse environmental, climate, and public health impacts, and are estimated to have totaled $5.3 trillion globally in 2015 alone.””
Another quote: “”According to the IMF, “fossil fuels account for 85 percent of all global subsidies,” and reducing these subsidies “would have lowered global carbon emissions by 28 percent and fossil fuel air pollution deaths by 46 percent, and increased government revenue by 3.8 percent of GDP.” An Overseas Development Institute study found that subsidies for coal-fired power increased almost three-fold, to $47.3 billion per year, from 2014 to 2017.””
https://www.eesi.org/papers/view/fact-sheet-fossil-fuel-subsidies-a-closer-look-at-tax-breaks-and-societal-costs
