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The US Strategic Petroleum Reserve (SPR) lacks transparency regarding the greenhouse gas emissions intensities of the oils it stores, which hinders the ability to minimize climate impacts during drawdowns. The document notes that different oils vary significantly in their climate footprints based on production and refining methods, and that a mismatch exists between the SPR's lighter crudes and the deep-conversion refineries in Texas and Louisiana that primarily process them. It suggests that selectively purchasing the lowest climate-intensive oils for the current one-million-barrel daily withdrawal could save an estimated 90 million tons of CO2e.

The document examines the growth of the transatlantic trade in natural gas liquids (NGLs), specifically ethane and propane, from the US to Europe. It contends that this trade allows European plastics producers to bypass domestic fracking bans and climate regulations, effectively offshoring the high greenhouse gas emissions associated with extraction and transport. The author calls for the EU to expand its Methane Regulation, Emissions Trading System (ETS), and Carbon Border Adjustment Mechanism (CBAM) to cover the full petrochemical supply chain and imports.

The report analyzes the impact of three US federal tax subsidies—the expensing of intangible drilling costs (IDC), percentage depletion, and accelerated amortization of geological and geophysical (G&G) expenses—on the profitability of oil and gas projects from 1998 to 2019. Using a financial model of 2,450 fields, the authors find that these subsidies increased the expected net present value of projects by billions of dollars annually, often exceeding $20 billion in high-price years. The benefits were heavily concentrated in unconventional shale developments in regions such as the Permian Basin and Appalachia, and disproportionately benefited independent firms over integrated ones. While subsidies provided 'super normal' profits during high-price periods (2007-2014) without significantly altering drilling decisions, they were critical for the viability of marginal projects during price drops, such as in 2016 for oil and 2010-2012 for gas in Appalachia.

The Clean Air Task Force asserts that draft rules from the New Mexico Environment Department (NMED) contain exemptions that would allow a large portion of oil and gas sites to avoid emissions reduction requirements. By analyzing NMED's own helicopter flyover surveys from 2019 and 2020, the authors found that at least 57% of sites with large, visible emissions would be exempt under the draft rules, specifically those with calculated potential volatile organic compound (VOC) emissions of less than 15 tons per year.

Governor Greg Abbott opposes the licensing of an Interim Storage Partners (ISP) facility in Andrews County, Texas, citing risks to public safety, national energy security, and the economic stability of the Permian Basin. He argues that the facility would be a high-value target for terrorism and that the lack of a permanent geologic repository makes the 'interim' nature of the storage unreliable. Additionally, he notes that the transportation of radioactive waste would disrupt the region's critical oil and agricultural logistics.

The statement highlights the health and environmental impacts of methane pollution and routine flaring in Texas's Permian Basin and Eagle Ford Shale regions. It criticizes the EPA for rolling back methane safeguards and the Railroad Commission of Texas for approving all 27,000 venting and flaring requests over seven years. The authors demand an end to routine flaring by 2025 to mitigate risks such as preterm births and childhood asthma in disproportionately affected communities of color.

The document argues that the United States, as a top fossil fuel producer with a resilient economy, must phase out extraction faster than the global average to meet Paris Agreement goals. It introduces three principles: reducing production at a pace consistent with climate protection, accelerating phase-outs in economically resilient communities, and safeguarding human rights and the environment. The authors apply these principles to U.S. coal and onshore oil, identifying the Appalachian Basin and California's San Joaquin basin as high-priority areas for rapid wind-down due to high carbon intensity, lower relative economic dependence, and significant environmental or social harms.

The document details the health impacts of oil and gas industry air pollution in Texas, noting that toxic emissions increase cancer risks in 82 counties and ozone smog causes approximately 145,000 annual asthma attacks in children. It highlights that 2.3 million Texans and over 900 schools are located within a half-mile of active operations, and argues that the suspension of EPA standards for leak inspections further endangers the population.

The study finds that at oil prices of $50 per barrel, U.S. government subsidies make nearly half of discovered, not-yet-producing oil fields profitable, potentially adding 20 billion barrels of production. This would result in approximately 8 billion tonnes of CO2 emissions, representing about 1% of the remaining global carbon budget to limit warming to 2°C. The analysis highlights that while subsidies significantly drive production at lower prices, they primarily function as transfers to industry profits at higher prices (e.g., $100 per barrel). The most impactful subsidy identified is the immediate expensing of intangible drilling costs (IDCs).

The document outlines technical recommendations for the California Air Resources Board (ARB) on monitoring, reporting, and verification (MRV) and accounting for CO2 sequestration. It emphasizes the priority of subsurface plume tracking over surface monitoring, argues that only anthropogenic CO2 should be credited, and suggests pragmatic 'haircut' approaches to credit reductions in the event of atmospheric leakage. For EOR applications, it clarifies that recycled CO2 should not require mass balance accounting and stresses the critical importance of wellbore integrity in brownfields.

The document analyzes the life cycle emissions of CO2-EOR, citing IEA data to show that using anthropogenic CO2 for oil recovery results in a net emissions reduction of 63% per barrel produced. It argues that EOR is a critical market-based driver for CCUS technology and that the oil targeted for EOR would likely be produced via other, more carbon-intensive methods if CO2-EOR is not used.

The report 'Five Years Lost' details 12 major fossil fuel expansion projects globally, estimating they would collectively emit at least 175 gigatons of CO2, consuming up to 75% of the remaining carbon budget for a 66% probability of limiting warming to 1.5°C. It identifies a systemic failure in the finance industry, noting that between January 2016 and August 2020, financial institutions provided $1.6 trillion in loans and underwriting and $1.1 trillion in investments to 133 companies driving these projects. The document highlights the role of public finance, specifically Export Credit Agencies (ECAs) and Multilateral Development Banks (MDBs) like the World Bank Group, in de-risking these projects. Case studies cover diverse regions including the Permian Basin (USA), Vaca Muerta (Argentina), and the Barents Sea (Norway), emphasizing the associated human rights abuses, environmental degradation, and the 'myth' of natural gas as a bridge fuel.