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New study shows axing fossil fuel subsidies can deliver big climate benefits (but press release says the opposite)

A study published today, by a group led by the International Institute for Applied Systems Analysis (IIASA), indicates that eliminating fossil fuel subsidies could curb global greenhouse gas emissions by as much as 5% through 2030 while saving hundreds of billions of dollars in public money. Despite this seemingly good news, the framing of the study was strangely downbeat, casting these reductions as “only a small effect on CO2 emissions.” What we know from reading the actual findings of this study, as well as several other analyses of the climate impacts of fossil fuel subsidy removal, is that nixing oil, gas, and coal subsidies would be a big win for the climate, would saves money, and could free up resources to help the poorest and most vulnerable.

Germany’s Fossil Fuel Subsidies Self Review Makes Mockery of Paris Climate Agreement

Today, Germany quietly released the ‘German Report on the Phasing-Out of Inefficient Fossil Fuel Subsidies,’ the country’s self-review as part of the G20 fossil fuel subsidies peer review process. Despite Germany’s rising fossil fuel subsidies, the review states that Germany plans to end only two subsidies, and claims that none of the other fossil fuel subsidies are ‘inefficient,’ supposedly putting them outside the G20 subsidies phase-out pledge.

Sign-on Letter: No Subsidies for Enhanced Oil Production

More than 30 environmental, public health, consumer, and climate groups delivered a letter to members of Congress in opposition to the FUTURE Act (S.1535) and Carbon Capture Act (H.R.3761) – and any attempts in a tax policy package to extend or expand subsidies for enhanced oil production.

Expanding Subsidies for CO2-Enhanced Oil Recovery: A Net Loss for Communities, Taxpayers, and the Climate

This analysis explores the oil production, carbon emissions, and taxpayer cost implications of the proposed changes to Section 45Q in the U.S. tax code in S.1535 and H.R.3761.

Expanding Subsidies for CO2-Enhanced Oil Recovery: A Net Loss for Communities, Taxpayers, and the Climate

Communities in Houston, Florida, Louisiana, Puerto Rico, and California are just beginning the long road to recovery from disasters made worse by climate change. It would seem downright irresponsible to increase taxpayer handouts to spur fossil fuel production at a time like this. But that’s exactly what’s being proposed in Washington.

Report: Trump’s “Energy Dominance” Plans Rely on Billions in Fossil Fuel 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.

Dirty Energy Dominance: Dependent on Denial – How the U.S. Fossil Fuel Industry Depends on Subsidies and Climate Denial

A 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.

Statement: G20 leaders shame Trump, but fail to end fossil fuel subsidies

FOR IMMEDIATE RELEASE July 8, 2017 CONTACT: Alex Doukas, alex [at] priceofoil [dot] org Stephen Kretzmann, steve [at] priceofoil [dot] org In response to the language in the G20 Leaders’ Communique from the 2017 summit in Hamburg, which fails to establish a deadline for the phase out of fossil fuel subsidies, Oil Change International … Read More

Shift the Subsidies Methodology

Here are answers to some common questions about Oil Change International’s Shift the Subsidies database and the methodology behind it. Please reach out at shiftthesubsidies@priceofoil.org if you have additional questions about the data or its proper use. How are projects classified as Fossil Fuel, Clean, or Other? Each project is classified into a category and sector … Read More

Shift the Subsidies Database: Public Finance Still Funding Fossils

The Shift the Subsidies Database is now maintained under the name Public Finance for Energy Database, and is publicly accessible at energyfinance.org For decades, wealthy countries and private companies have been using international aid, export credit support, and other foreign assistance – grants, loans, equity, and loan guarantees – to subsidize the expansion of the … Read More

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