Subsidies to fossil fuel companies: United States crude oil production

This research paper by the Stockholm Environment Institute examines the effect of federal and state subsidies on crude oil production in the United States, specifically analyzing how tax preferences influence the profitability of new investments and subsequent carbon emissions.

• At oil prices of USD 50 per barrel, subsidies and tax preferences make nearly 50% of new, undeveloped oil investments profitable, which could lead to an increase in U.S. oil production of 17 billion barrels over several decades.
• The oil production enabled by these subsidies is equivalent to 6 billion tonnes of CO2 and could represent up to 20% of U.S. oil production through 2050 within a carbon budget designed to limit warming to 2 °C.
• The removal of fossil fuel support policies and tax incentives would allow for the fulfillment of G20 commitments and provide climate benefits.

APA

Stockholm Environment Institute (2017). Subsidies to fossil fuel companies: United States crude oil production. https://www.sei.org/publications/subsidies-fossil-fuel-companies-united-states-crude-oil-production/

Chicago

Stockholm Environment Institute. Subsidies to fossil fuel companies: United States crude oil production. 2017. https://www.sei.org/publications/subsidies-fossil-fuel-companies-united-states-crude-oil-production/.

Wikipedia

{{cite report |author=Stockholm Environment Institute |title=Subsidies to fossil fuel companies: United States crude oil production |date=2 October 2017 |url=https://www.sei.org/publications/subsidies-fossil-fuel-companies-united-states-crude-oil-production/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{stockholmenvironmentinstitute2017subsidies, author = {{Stockholm Environment Institute}}, title = {{Subsidies to fossil fuel companies: United States crude oil production}}, institution = {Stockholm Environment Institute}, year = {2017}, month = oct, url = {https://www.sei.org/publications/subsidies-fossil-fuel-companies-united-states-crude-oil-production/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }