Cashing in on All of the Above: U.S. Fossil Fuel Production Subsidies under Obama
In 2013, the U.S. federal and state governments gave away $21.6 billion in subsidies for oil, gas, and coal exploration and production.
In 2013, the U.S. federal and state governments gave away $21.6 billion in subsidies for oil, gas, and coal exploration and production.
From 2009 through 2013, large U.S.-based oil and gas companies paid far less in federal income taxes than the statutory rate of 35 percent. Thanks to a variety of special tax provisions, these companies were also able to defer payment of a significant portion of the federal taxes they accrued during this period.
The pace and scale of oil sands mining continues to increase in Alberta despite a poor understanding of the environmental liabilities: costs associated with the environmental impacts throughout the life of a mine. In Toxic Liability, the Pembina Institute has compiled the first public estimate of these liabilities.
Large natural gas finds off the coast of Israel create significant financial and energy challenges for a State long focused on high technology exports and alternative energy development. To address these concerns, Israel has already implemented study commissions and proposed a Sovereign Wealth Fund (the "Citizens of Israel Fund"). This paper reviews the proposed structure of the Fund and a number of other core issues related to the gas finds such as how much to export, how to deploy revenues, and how the development will affect energy security. It makes the following recommendat
Keynote presentation at the Expert Workshop on Subsidies to Fossil Fuels and Climate Mitigation Policies in Latin America and the Caribbean (LAC), held at the Inter-American Development Bank in Washington, DC on January 14, 2014. Slides review recent global estimates of fossil fuel subsidies, highlighting both the tallies and the reasons the estimates differ widely from one another.
This report documents the scale of fossil fuel subsidies and sets out a practical agenda for their elimination in the context of the global goal of tackling climate change. It spells out the real costs of fossil fuel subsidies within the top developed-country emitters (the E11), the G20, and more broadly across developing countries, and outlines ways to achieve their global phase-out by 2025.
This report describes organized attacks on climate science, scientists and scientific institutions like the UN Intergovernmental Panel on Climate Change (the IPCC), that have gone on for more than 20 years. It sets out some of the key moments in this campaign of climate denial started by the fossil fuel industry, and traces them to their sources.
Special legislative provisions have allowed a select group of industries to operate as tax-favored publicly-traded partnerships (PTPs) more than 25 years after Congress stripped eligibility for most sectors of the economy. These firms, organized as Master Limited Partnerships (MLPs), are heavily concentrated in the oil and gas industry. Selective access to valuable tax preferences distorts energy markets and creates impediments for substitute, non-fossil, forms of power, heating, and transport fuels.
There is no one-size-fits-all strategy for fossil-fuel subsidy reform-but there are a set of planning stages that are generic, along with many common issues, challenges and potential solutions. The Global Subsidies Initiative (GSI) of the International Institute for Sustainable Development (IISD) has published a guidebook on how governments can formulate an effective reform strategy that will fit their individual objectives and circumstances. It is aimed at policy-makers in Southeast Asia, but much of its guidance could apply to any region.
The powerful fossil fuel interests that reap huge subsidies on the federal level have been doing the very same thing on the state level in the US.
In many states, the coal, oil and natural gas industries are among the most powerful industries, and have been benefiting from political deals for decades.