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In 2014, the global energy industry revenue was about US$8 trillion,[37] with about 84% fossil fuel, 4% nuclear, and 12% renewable (including hydroelectric).[38]

In 2014, there were 1,469 oil and gas firms listed on stock exchanges around the world, with a combined market capitalization of US$4.65 trillion.[39] In 2019, Saudi Aramco was listed and it touched a US$2 trillion valuation on its second day of trading,[37] with about 84% fossil fuel, 4% nuclear, and 12% renewable (including hydroelectric).[38]

In 2014, there were 1,469 oil and gas firms listed on stock exchanges around the world, with a combined market capitalization of US$4.65 trillion.[39] In 2019, Saudi Aramco was listed and it touched a US$2 trillion valuation on its second day of trading,[40] after the world's largest initial public offering.[41]

Economic effects

Air pollution from fossil fuels in 2018 has been estimated to cost US$2.9 trillion, or 3.3% of global GDP.[11]

Subsidy

The International Energy Agency estimated 2017 global government fossil fuel subsidies to have been $300 billion.[42]

A 2015 report studied 20 fossil fuel companies and found that, while highly profitable, the hidden economic cost to society wa

In 2014, there were 1,469 oil and gas firms listed on stock exchanges around the world, with a combined market capitalization of US$4.65 trillion.[39] In 2019, Saudi Aramco was listed and it touched a US$2 trillion valuation on its second day of trading,[40] after the world's largest initial public offering.[41]

Air pollution from fossil fuels in 2018 has been estimated to cost US$2.9 trillion, or 3.3% of global GDP.[11]

Subsidy

The International Energy Agency estimated 2017 global government fossil fuel subsidies to have been $300 billion.[42]

A 2015 report studied 20 fossil fuel companies and found that

A 2015 report studied 20 fossil fuel companies and found that, while highly profitable, the hidden economic cost to society was also large.[43][44] The report spans the period 2008–2012 and notes that: "For all companies and all years, the economic cost to society of their CO
2
emissions was greater than their after‐tax profit, with the single exception of ExxonMobil in 2008."[43]:4 Pure coal companies fare even worse: "the economic cost to society exceeds total revenue in all years, with this cost varying between nearly $2 and nearly $9 per $1 of revenue."[43]:5 In this case, total revenue includes "employment, taxes, supply purchases, and indirect employment."[43]:4

Fossil fuel prices generally are below their actual costs, or their "efficient prices," when economic externalities, such as the costs of air pollution and global climate destruction, are taken into account. Fossil fuels are subsidized in the amount of $4.7 trillion in 2015, which is equivalent to 6.3% of the 2015 global GDP and are estimated to grow to $5.2 trillion in 2017, which is equivalent to 6.5% of global GDP. The largest five subsidizers in 2015 were the following: China with $1.4 trillion in fossil fuel subsidies, United States with $649 billion, Russia with $551 billion, the European Union with $289 billion, and India with $209 billion. Had there been no subsidies for fossil fuels, global carbon emissions would have been lowered by an estimated 28% in 2015, air-pollution related deaths reduced by 46%, and government revenue increased by $2.8 trillion or 3.8% of GDP.[45]