{"id":4426,"date":"2005-03-17T00:00:00","date_gmt":"2005-03-17T00:00:00","guid":{"rendered":"http:\/\/www-prod.greenpeace.org\/usa\/campaign-updates\/4426\/fueling-global-warming\/"},"modified":"2024-12-09T17:34:53","modified_gmt":"2024-12-09T17:34:53","slug":"fueling-global-warming","status":"publish","type":"post","link":"https:\/\/www.greenpeace.org\/usa\/fueling-global-warming\/","title":{"rendered":"Fueling Global Warming"},"content":{"rendered":"<p><span class='p4descriptive_paragraph'>Federal subsidies to the oil industry in The<br \/>\nUnited States.<\/span><\/p>\n<p><a href=\"https:\/\/storage.googleapis.com\/planet4-usa-stateless\/2024\/12\/325062c3-fueling-global-warming.pdf\">Download document<\/a><\/p>\n<p><b>Executive summary:<\/b> Despite increasing concerns over climate change and other environmental consequences<br \/>\nof our heavy reliance on oil, the U.S. government continues to subsidize the fuel. Subsidies to<br \/>\noil are provided to producers, transporters, and consumers in varied and often subtle ways. These<br \/>\nsubsidies not only cost taxpayers billions of dollars per year, but they often exacerbate<br \/>\nenvironmental damage. They can also reduce oil prices, suppressing market signals to<br \/>\ngovernments, oil consumers, and oil producers to begin shifting to alternatives.<br \/>\nThis study examines federal subsidies to oil in detail, including policies directly targeted<br \/>\nto the oil sector and a pro-rated share of more generally-targeted provisions. By highlighting and<br \/>\nquantifying this support, we demonstrate that subsidies continue to play a substantial role in the<br \/>\nU.S. economy and identify logical areas for reforms that can save taxpayer money, reduce<br \/>\nenvironmental damages, and help the country to meet carbon reduction targets. Our analysis<br \/>\nincludes a broad array of subsidy areas, including tax breaks, research and development support,<br \/>\nsubsidized credit programs, defense of oil supplies, below-market sale of public oil resources,<br \/>\nsubsidized oil transport, and private sector liabilities that are shifted onto the public. We have<br \/>\nalso analyzed federal levies on oil and deducted these from our subsidy values as appropriate to<br \/>\nobtain our net subsidy estimate. Where available data did not permit specific subsidies to be<br \/>\nquantified, we have described them qualitatively.<\/p>\n<p><b>Num. pages:<\/b> 140<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Download document<\/p>\n","protected":false},"author":77,"featured_media":10079,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"ep_exclude_from_search":false,"p4_og_title":"","p4_og_description":"","p4_og_image":"","p4_og_image_id":"","p4_seo_canonical_url":"","p4_campaign_name":"","p4_local_project":"","p4_basket_name":"","p4_department":"","footnotes":""},"categories":[254],"tags":[6,100],"p4-page-type":[29],"class_list":["post-4426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fossil-fuels-cat","tag-climate","tag-fossil-fuels","p4-page-type-research"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO 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