What are the US federal subsidies for Oil production?

A fossil fuel subsidy is any government action that lowers the cost of fossil fuel energy production, raises the price received by energy producers, or lowers the price paid by energy consumers. Essentially, it’s anything that rigs the game in favor of fossil fuels compared to other energy sources.

The most obvious subsidies are direct funding and tax giveaways, but there are many activities that count as subsidies – loans and guarantees at favorable rates, price controls, governments providing resources like land and water to fossil fuel companies at below-market rates, research and development funding, and more.

As of October 2017, Oil Change International estimates United States fossil fuel exploration and production subsidies at $20.5 billion annually .  The most obvious subsidies are direct funding and tax giveaways, but there are many activities that count as subsidies – loans and guarantees at favorable rates, price controls, governments providing resources like land and water to fossil fuel companies at below-market rates, research and development funding, and more.

Productions subsidies are government support for fossil fuel production, including exploration, development, extraction, and transportation. We define support for fossil fuel production to include national subsidies, investment by state-owned enterprises, and public finance specifically for fossil fuel production.

Exploration subsidies are government handouts specifically for the purpose of discovering and reaching new fossil fuel reserves, including support for extraction that includes an exploration component. It has become increasingly clear that we cannot afford to burn more than a small portion of the fossil fuel reserves we have already found, meaning exploration for even more reserves – and wasting public money doing so – is the height of irresponsibility.

Fossil fuel subsidies essentially function as a negative carbon price, reducing the cost of developing fossil fuels – so not only are their true costs being shifted onto the poor via climate and health impacts, but the fossil fuel industry is actually being paid for this privilege.

http://priceofoil.org/fossil-fuel-subsidies/

*What are the US federal subsidies for Oil production? [Alan Journet]

A fossil fuel subsidy is any government action that lowers the cost of fossil fuel energy production, raises the price received by energy producers, or lowers the price paid by energy consumers. Essentially, it’s anything that rigs the game in favor of fossil fuels compared to other energy sources.

The most obvious subsidies are direct funding and tax giveaways, but there are many activities that count as subsidies – loans and guarantees at favorable rates, price controls, governments providing resources like land and water to fossil fuel companies at below-market rates, research and development funding, and more.

As of October 2017, Oil Change International estimates United States fossil fuel exploration and production subsidies at $20.5 billion annually .  The most obvious subsidies are direct funding and tax giveaways, but there are many activities that count as subsidies – loans and guarantees at favorable rates, price controls, governments providing resources like land and water to fossil fuel companies at below-market rates, research and development funding, and more.