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Oil and Gas Royalties: Relief for Oil and Gas Companies, a Fiscal Headache for Taxpayers

Oil and gas companies that drill offshore or on public lands are required to pay for the oil and gas they remove in the form of royalties. However, because of out-dated energy policy and mismanagement of royalty collection, oil and gas companies often pay little to no royalties to the owners of the resources—U.S. taxpayers. At a time when oil companies have experienced five years of record profits, there is no need to subsidize the industry with royalty holidays. With prices at more than $80/barrel, and predicted to increase, the industry has ample incentive to produce more oil without taxpayer subsidies. ...

Department of Energy Loan Program

What are federal loan guarantees? Federal loan guarantees allow borrowers to receive a loan from an independent or federal lender with...

UPDATE: The President’s 2010 Budget: Reining in Oil and Gas Subsidies

The president’s fiscal year 2010 budget repeals several long-standing oil and gas subsidies, saving an estimated $31.7 billion over the next ten years.i In addition, general tax and subsidy reforms will save $108.5 billion, largely from subsidies that benefit the oil and gas industries. For nearly a century, taxpayers have provided billions of dollars in subsidies to the oil and gas industry, this proposal takes the first step toward reining in decades of giveaways....

Nuclear Power Subsidies

Since the nation began using nuclear energy, the federal government has provided billions in subsidies to the industry. More than $85...

Taxpayers at Risk: Expansion of Nuclear Loan Guarantees Could Cost Billions

This fall, Congress is poised to consider an energy financing entity that would allow for the distribution of extensive loan guarantees and...

House Committee on Science and Technology Hearing on Advancing Technology for Nuclear Fuel Reprocessing

Last month, the House Committee on Science and Technology held a hearing on nuclear fuel reprocessing. The hearing covered a range of...

DOE Halts Plan for Commercial Reprocessing:  Global Nuclear Energy Partnership Shelved

The Obama Administration has put the Global Nuclear Energy Partnership (GNEP) on hold until further notice. GNEP, an international...

Oil and Gas Industry Profits

Another Huge Year Exxon Mobil likes breaking records. In 2007, it posted the biggest annual profit number reported by any American...

Department of Energy Loan Guarantee Program 2009 Briefer

Title XVII of the Energy Policy Act of 2005 authorized the Department of Energy (DOE) Loan Guarantee Program to provide loan guarantees for...

Coal: A Long History of Subsidies

Subsidies to the coal industry began in 1932, when the federal government allowed companies to deduct a portion of their income to help...

Engineering Boondoggles

While Washington is wringing its hands about the automatic across-the-board budget cuts known as...