Posts in oil and gas subsidies
- A new report out today reveals that U.S. taxpayers continue to foot the bill for more than $20 billion in fossil fuel subsidies each year. These subsidies amount to billions of dollars wasted to prop up an industry responsible for a climate crisis that has contributed to lives lost and hundreds of billions in damages this hurricane season alone.
- Millions of Americans may be struggling to pay routine household bills, but still US taxpayers are handing out a whopping $20 billion in fossil fuel subsidies a year. This is the major finding of a new report Dirty Energy Dominance: Dependent on Denial published by Oil Change International (OCI) today. Subsidies are where the government...
Continue reading 'Trump’s $20 Billion-a-Year Hand Out to Dirty Energy'.
Dirty Energy Dominance: Dependent on Denial – How the U.S. Fossil Fuel Industry Depends on Subsidies and Climate DenialA new report by Oil Change International reveals that U.S. taxpayers continue to foot the bill for more than $20 billion in fossil fuel subsidies each year. Every dollar spent subsidizing this industry takes us further away from achieving internationally agreed emissions goals, and maintaining a stable climate.
- As the G20 talks commence, the new international "Climate Pariah" Donald Trump is going to come under intense pressure from the G20 to reconsider pulling out of the Paris Climate agreement.
- The oil and gas industry makes out particularly well in the budget deal, with the vast majority of its generous subsidies preserved under the new budget. Meanwhile, support for clean energy is on the chopping block.
- 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...
Continue reading 'Tar sands tax loophole highlighted in two more reports'.
- In our second review of progress in meeting this phase out commitment we conclude that the G20 effort is currently failing.
- 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.
- 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...
Continue reading 'Fossil Fuel Subsidy Reform Gaining Momentum Internationally'.
- 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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