U.S ENDING $4 BILLION OIL AND HAVE LOW IMPACT ON GAS DRILLING SUBSIDES
They see a conflict in the government providing billions of dollars in incentives for drilling while simultaneously attempting to lower consumption of carbon-emitting energy sources. Now a new study suggests that those subsidies could be entirely eliminated with little effect on energy prices. As covered in the Upshot analysis column of The New York Times, the study was conducted for the Council on Foreign Relations. An economics professor at Tufts University, Gilbert Metcalf, analyzed what would happen if three types of federal subsidies for oil and gas production were to…
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