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The Price of Oil

Exposing the true costs of fossil fuels

Oil Change International campaigns to expose the true costs of fossil fuels and facilitate the coming transition towards clean energy.

Posts in oil and gas subsidies

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  Tar sands tax loophole highlighted in two more reports

  David Turnbull, July 31, 2012
  A couple months ago, Oil Change International worked with Earth Track and NRDC to expose a huge loophole that allows tar sands producers to avoid paying their fair share into the Oil Spill Liability Trust Fund. Oil producers generally pay into this fund, but through a exemption in the tax code, tar sands oil producers...
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  Report: Phasing Out Fossil-Fuel Subsidies in the G20: A Progress Update

  Steve Kretzmann, June 17, 2012
  In our second review of progress in meeting this phase out commitment we conclude that the G20 effort is currently failing.
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  $1 TRILLION in Global Fossil Fuel Subsidies & the Urgent Need for Transparency

  David Turnbull, June 13, 2012
  In this graphic, you can see that according to Oil Change International analysis, governments around the world are spending perhaps more than $1 trillion USD combined per year subsidizing the fossil fuel industry.

• Fossil Fuel Subsidy Reform Gaining Momentum Internationally

  David Turnbull, May 23, 2012
  23 May 2012 Ahead of upcoming meetings in June of the G20 in Mexico and the United Nations Rio + 20 Summit, the pace of activity around worldwide efforts to phase out subsidy reform is quickening. Last weekend, the G8 leaders reaffirmed their commitment to phase out fossil fuel subsidies in their statement coming out...
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  Irrational Exemption: Tar sands pipeline subsidies and why they must end

  Lorne Stockman, May 15, 2012
  This briefing finds that the transport of tar sands oil through pipelines in the United States is exempt from payments into the Oil Spill Liability Trust Fund, which creates a free ride worth over $375 million to tar sands oil producers between 2010 and 2017.
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  Senate Fails to Cut Favors to Big Oil, Once Again

  Karen Showalter, March 29, 2012
  Earlier today President Obama challenged Congress to either stand with Big Oil, or stand with the American people. A vote on legislation introduced by Senator Robert Menendez (D-NJ) that would have eliminated over $2.4 billion in annual tax deductions to the top 5 oil companies was subsequently defeated a few hours later. Once again Congress...
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  One Dollar In, Fifty-Nine Out

  Steve Kretzmann, January 26, 2012
  You can SHARE this infographic on Facebook. What if you were in Vegas, and a friend told you there was a slot machine in the corner that was giving out $59 for every $1 that was put in?  You’d think the machine was broken, and that it was rigged. What if an investment advisor told...
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• Shift the Subsidies Database Reveals $40 Billion in Fossil Fuel Funding Over Last Four Years

  Elizabeth Bast, November 30, 2011
  Development Banks Still Financing Dirty Energy New Database Reveals $40 Billion in Fossil Fuel Funding Over Last Four Years Nov. 30, 2011, Durban, South Africa – Major multilateral development banks have provided financing of over $40 billion to fossil-fuel energy development since 2008, according to the new Shift the Subsidies database (http://shiftthesubsidies.org), launched today by...
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  Civil Society to World Bank: Clean Up Dirty Energy Financing

  Elizabeth Bast, November 29, 2011
  New report shows institution lacking clean energy lending strategy and instead considering a new loan for coal power in Kosovo BASIC South Initiative – Campagna per la riforma della Banca Mondiale (Italy) – Friends of the Earth U.S. – groundWork (South Africa) – International Rivers – Oil Change International – Sierra Club (U.S.) – Urgewald...
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• Pat Toomey: Drill-Baby-Drill, Even in Lake Erie

  Lorne Stockman, November 17, 2011
  Written by Ross Hammond Residents of Cleveland and Buffalo (where I grew up) might be forgiven if they were not terribly excited about the prospect of having oil rigs off the shores of their fair cities. But according to Supercommittee member Senator Pat Toomey of Pennsylvania, drilling for oil in Lake Erie might just be...
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