Effect of subsidies to fossil fuel companies on United States crude oil production

@article{Erickson2017EffectOS,
  title={Effect of subsidies to fossil fuel companies on United States crude oil production},
  author={Peter Erickson and Adrian Down and Michael Lazarus and Doug Koplow},
  journal={Nature Energy},
  year={2017},
  volume={2},
  pages={891-898}
}
Countries in the G20 have committed to phase out ‘inefficient’ fossil fuel subsidies. However, there remains a limited understanding of how subsidy removal would affect fossil fuel investment returns and production, particularly for subsidies to producers. Here, we assess the impact of major federal and state subsidies on US crude oil producers. We find that, at recent oil prices of US$50 per barrel, tax preferences and other subsidies push nearly half of new, yet-to-be-developed oil… 
Effect of subsidies and regulatory exemptions on 2020–2030 oil and gas production and profits in the United States
The United States has supported the development of its oil and gas industry since the early twentieth century. Despite repeated pledges to phase out ‘inefficient’ fossil fuel subsidies, US oil and
Reply to: Why fossil fuel producer subsidies matter
TLDR
It is argued that the impact of subsidy removal on emissions is likely to be more substantial than Jewell et al. find, particularly when considering support for fossil fuel producers in high-income countries.
Why fossil fuel producer subsidies matter
TLDR
A simple, sector-specific model is used to show how the emission reductions from producer subsidy reform could be more material than Jewell et al. suggest.
The politics of fossil fuel subsidies and their reform: Implications for climate change mitigation
The production and consumption of fossil fuels need to decrease significantly to meet the 2015 Paris Agreement's ambitious climate change goals. However, fossil fuels continue to receive significant
Fossil fuel supply and climate policy: exploring the road less taken
The combustion of fossil fuels is by far the largest human source of global greenhouse gas emissions, releasing more than 30 billion tonnes of carbon dioxide (CO2) into the atmosphere each year (IPCC
Limiting fossil fuel production as the next big step in climate policy
Despite the current ambivalence of the United States towards the Paris Agreement, national and local jurisdictions across the globe remain committed, and they are seeking ways to increase the
The Rising Costs of Fossil‐Fuel Extraction: An Energy Crisis That Will Not Go Away
In biophysical terms, such as energy return on investment (EROI), energy sources for the global economy have grown more expensive over the last few decades This trend is likely to be more pronounced
Designing fossil fuel subsidy reforms in OECD and G20 countries: A robust sequential approach methodology
Reform of support for fossil fuels is often identified as a priority for a country’s fiscal consolidation efforts and for climate action to align financial flows with low-carbon pathways. Its
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 60 REFERENCES
Empty promises G20 subsidies to oil, gas and coal production
This research discovers that G20 country governments’ support to fossil fuel production marries bad economics with potentially disastrous consequences for climate change. In effect, governments are
Global progress and backsliding on gasoline taxes and subsidies
To reduce greenhouse gas emissions in the coming decades, many governments will have to reform their energy policies. These policies are difficult to measure with any precision. As a result, it is
The Impact of Removing Tax Preferences for US Oil and Natural Gas Production: Measuring Tax Subsidies by an Equivalent Price Impact Approach
  • G. Metcalf
  • Economics
    Journal of the Association of Environmental and Resource Economists
  • 2018
This paper presents a novel methodology for estimating impacts on domestic supply of oil and natural gas from changes in the tax treatment of oil and gas production. Using this approach along with
The Effects of Fossil-Fuel Subsidy Reform: A Review of Modelling and Empirical Studies
Understanding the complex trade-offs between the economic, environmental and social impacts of subsidy reform is a challenge for any government considering phasing out fossil-fuel subsidies. Jennifer
Quantifying uncertainties influencing the long-term impacts of oil prices on energy markets and carbon emissions
Oil prices have fluctuated remarkably in recent years. Previous studies have analysed the impacts of future oil prices on the energy system and greenhouse gas emissions, but none have quantitatively
Tracing anthropogenic carbon dioxide and methane emissions to fossil fuel and cement producers, 1854–2010
  • R. Heede
  • Environmental Science
    Climatic Change
  • 2013
This paper presents a quantitative analysis of the historic fossil fuel and cement production records of the 50 leading investor-owned, 31 state-owned, and 9 nation-state producers of oil, natural
THE EFFECT OF TAXES ON THE PROFITABILITY OF U.S. OIL AND GAS PRODUCTION: A CASE STUDY OF THE OCS RECORD
Since the inception of Outer Continental Shelf oil and gas leasing in 1954, income derived from oil and natural gas production has generally been accorded preferential tax treatment. The tax
Fossil fuel production in a 2°C world: The equity implications of a diminishing carbon budget
The essence of the first is that extraction of fossil fuels is the ultimate source of fossil carbon emissions, and hence suppliers should be treated as polluters. This view has lent impetus to calls
...
1
2
3
4
5
...