Letter: 500+ Groups Urge U.S. Congress to End Fossil Fuel Subsidies
Over 500 groups released an open letter being sent to U.S. House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, urging them to end fossil fuel subsidies.
Oil Change International publishes upwards of 20 reports and briefings every year focused on supporting the movement for a just phase-out of fossil fuels.
Over 500 groups released an open letter being sent to U.S. House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, urging them to end fossil fuel subsidies.
A new report by Oil Change International reveals that U.S. taxpayers continue to foot the bill for more than $20 billion in fossil fuel subsidies each year. Every dollar spent subsidizing this industry takes us further away from achieving internationally agreed emissions goals, and maintaining a stable climate.
In our second review of progress in meeting this phase out commitment we conclude that the G20 effort is currently failing.
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.
This briefing finds that the transport of tar sands oil through pipelines in the United States is exempt from payments into the Oil Spill Liability Trust Fund, which creates a free ride worth over $375 million to tar sands oil producers between 2010 and 2017.
As the U.S. Congress debates several measures to remove oil industry subsidies, we have published a new factsheet that overviews some of the key issues in the subsidy debate.
This report, prepared by Oil Change International and Earth Track, is the first independent evaluation of the success of the G20 Pledge to phase out fossil fuel subsidies. The report reveals large gaps in the reporting of subsidies and that no new actions have been taken by G20 nations as a result of their commitment in Pittsburgh to phase out fossil fuel subsidies.