This is a bold claim to make, and one that you might expect from radical groups like Friends of the Earth or Greenpeace. But it came from that staid, wholly establishment organisation, the International Monetary Fund.
The IMF estimates that in 2017 global fossil fuel subsidies reached a mind-blowing 5.2 trillion dollars, or 6.5 percent of global GDP, up from $4.7tn in 2015.
These costs include not only direct subsidies but also tax breaks that dinimish national budgets, health care costs from fossil fuel related pollution, the cost of traffic congestion, and so on. It's a pretty thorough assessment of all the indrect costs to society.
Worldwide subsidies for coal is about $2tn, subsidies to oil and gas about $2.5tn.
Now here's the truly gobsmacking thing about all this: