Ending $4 Billion U.S. Oil Subsidy Seen Having Minimal Impact

  • Domestic oil production could fall 5 percent by 2030
  • Eliminating subsidies wouldn’t affect demand, carbon emissions

Eliminating $4 billion of petroleum subsidies in the U.S. would have only a minor affect on oil production and demand and boost the country’s influence in advocating global climate change action, according to a report for the Council on Foreign Relations.

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