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

  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},
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… 
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