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Uploaded subsidy-related resources, whether via actual file upload or link to resource on another website.

Effect of government subsidies for upstream oil infrastructure on U.S. oil production and global CO2 emissions

The United States now produces as much crude oil as ever – over 3.4 billion barrels in 2015, just shy of the 3.5 billion record set in 1970. Indeed, the U.S. has become the world’s No. 1 oil and gas producer. The oil production boom has been aided by tax provisions and other subsidies that support private investment in infrastructure for oil exploration and development. Federal tax preferences, for example, enable oil and gas producers to deduct capital expenditures faster, or at greater levels, than standard tax accounting rules typically allow, boosting investment returns.

Review of Proposed ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ or the ‘‘CARES Act’’

In an effort to response to the widespread health and economic issues associated with the coronavirus pandemic, Congress has been working on legislative responses.  This is the second major stimulus bill, an initiative led by Senate Majority Leader Mitch McConnell.  The bill provides roughly $1 trillion in economic stimulus; more once tax impacts are included.

The attached document contains comments on particular provisions, as input to the process of improving the targeting and efficiency of the bill.

Adding Fuel to the Fire: Export Credit Agencies and Fossil Fuel Finance

Export credit agencies are little-known government-backed financial institutions that provide loans, guarantees, and insurance with the aim of supporting exports of goods or services from their country to outside markets. This report from Oil Change International and Friends of the Earth U.S. shows that since the Paris Agreement was made, G20 countries have used their export credit agencies to provide nearly 12 times more finance to fossil fuels than to clean energy. 

The Production Gap 2019 Report: The discrepancy between countries’ planned fossil fuel production and global production levels consistent with limiting warming to 1.5°C or 2°C

This report addresses the necessary winding down of the world’s production of fossil fuels in order to meet climate goals. Though coal, oil, and gas are the central drivers of climate change, they are rarely the subject of international climate policy and negotiations.

Why fossil fuel producer subsidies matter

This article in Nature explains how subsidies affect fossil fuel investment and why they deserve greater attention in global modelling analyses.

It responds to a 2018 study in Nature that used the results of integrated assessment models to infer that eliminating subsidies would yield “limited emission reductions…except in energy-exporting regions”, and described the emission reduction benefits as “small”.

Reducing the Carbon Footprint of Harvard’s Endowment: A Review of Information Gaps and Potential Leverage Points

This working paper identifies some of the major gaps in Harvard’s existing reporting on the climate impacts of its endowment; potential leverage points to address these gaps; and some next steps to develop solutions that protect investment flexibility for Harvard Management Company while greatly and rapidly improving transparency.  These improvements are ne

Defining and Measuring Fossil Fuel Subsidies

For many years, policy discussions have focused on strategies to bring down greenhouse gas emissions using taxes, permits and other regulatory or statutory limits.  Yet fossil fuel markets across the world remain littered with government programs subsidizing these emissions.  The subsidies are large and act as a negative tax on carbon, slowing the transition to cleaner fuels, weakening the impact of carbon constraints and absorbing a significant portion of government revenues in many countries.