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 … Read More
Subsidies
Oil companies continue to profit at the expense of our future
If you believe the press reports, you’d think that the oil industry was hurting of late, what with the headlines coming out of the most recent quarterly earnings reports saying things like, “Exxon and Shell Earnings Disappoint,” and “Occidental quarterly profit lower”, and “Chevron 2nd-Quarter Profit Off 6.8%; Upstream Earnings Fall”. These headlines paint a … Read More
EU Commissioner Calls for End to Subsidies
Connie Hedegaard, the outspoken EU Commissioner for Climate Action, has lent her weight to the growing calls for ending fossil fuel subsidies. Earlier in the week, Oil Change International revealed that fossil fuel subsidies could be as high a $1 trillion. Oil Change has been working with others NGOs to make phasing out subsidies a … Read More
Report – Low Hanging Fruit: Fossil Fuel Subsidies, Climate Finance, and Sustainable Development
Our latest report finds that global fossil fuel production and consumption subsidies are at least $775 billion annually and could be $1 trillion or even more. There is an urgent need for transparency in subsidy reporting.
$1 TRILLION in Global Fossil Fuel Subsidies & the Urgent Need for Transparency
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.
Call on Governments to End Fossil Fuel Subsidies
Hundreds of governments and thousands of stakeholders will meet at the Rio+20 Conference in Brazil this month to chart a future for the health of the planet, our human family and economies worldwide. The question is whether that future will include continuing public fossil fuel subsidies, which could climb to a staggering US$775 billion to an estimated US$1 trillion … Read More
Subsidised “Green Gas” No Better than Coal
Sometimes all you have to do is join the dots. Let’s take three different headlines from yesterday, which are all from the Guardian newspaper in the UK. Headline number one: “’Golden age of gas’ threatens renewable energy, IEA warns” The article went on to state: “A ‘golden age of gas’ spurred by a tripling of … Read More
New Study: Oil Subsidies Waste Money, Don’t Encourage Production
Thanks to The Checks and Balances Project for this cross post and Headwaters Economics for the study. When you fill up your tank for vacation this summer, keep in mind that the dial at the pump is spinning faster than you think. In addition to what you pay at the pump, your tax dollars are … Read More
Fossil Fuel Subsidy Reform Gaining Momentum Internationally
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 … Read More
Dirty Energy Money pouring into Congress faster than ever before
Members of Congress have taken almost $16 million from the oil, gas and coal industries so far in this 112th Congress. That puts this Congress on track to be the dirtiest ever. The information comes to light as part of the latest update of DirtyEnergyMoney.com, a project of Oil Change International which uniquely refines and … Read More
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