Kelly: What are the true costs to society of fossil fuels? According to a recent International Monetary Fund (IMF) study, fossil fuel companies are benefiting from global subsidies of $5.3tn (£3.4tn) a year, $10 million per minute, every minute, each and every day. The Guardian reports that the $5.3tn subsidy estimated for 2015 is greater than the total health spending of all the world’s governments.