Fossil Fuel Subsidies
Fossil Fuel Subsidies
May 5th
Dirty Energy Dominance: Dependent on Denial
How the U.S. fossil fuel industry depends on subsidies and climate denial.
Oil Change International (OCI)
http://priceofoil.org/content/uploads/2017/10/OCI_US-Fossil-Fuel-Subs-2015-16_Final_Oct2017.pdf
“Policies, rules, and provisions in the tax code that continue to support fossil fuel production undermine efforts to transition to a clean energy economy, and rob the public purse of the resources needed to do so. Removing these highly inefficient subsidies – which waste billions of dollars propping up an industry incompatible with safe climate limits – should be the first priority of fiscally responsible climate, energy, and tax reform policies.”
“The United States federal and state governments gave away $20.5 billion a year on average in 2015 and 2016 in production subsidies to the oil, gas, and coal industries, including $14.7 billion in federal subsidies and $5.8 billion through state-level incentives. At the state level, this is likely a significantly conservative estimate, given limits to available data.”