- Madeleine Sheehan Perkins Jul. 5, 2017, 3:51 PM
A new report shows that the US government provided about $6 billion annually in financial support to the oil, gas, and coal industries between 2013 and 2015. That’s over four times the amount that went to clean energy, which received $1.3 billion.
The report, released July 5, is the product of research conducted by Oil Change International, Friends of the Earth, the Sierra Club, and the World Wildlife Fund’s European Policy Office. Their goal was to parse out the amount of public financing — defined as grants, equity, loans, guarantees, and insurance from majority government-owned financial institutions— that various G20 countries have given to domestic and international energy production.
Data came from Oil Change International’s “Shift the Subsidies Database,” which tracks public financial flow to fossil fuel industries from 2008 until the present. According to that database, the US provided $832 million annually to coal and $5 billion to oil and gas. (It was not possible to determine the split between coal, oil, and gas for the remaining $160 million.)
The US also received $17.5 billion in fossil fuel financing from other G20 countries.