US government financial intervention, subsidies in energy declines since 2013

Source:Xinhua Published: 2018/4/26 8:45:56

Subsidies for many energy categories from the US federal government declined since the fiscal year (FY) of 2013 through 2016, the US Energy Information Administration (EIA) said Wednesday.

According to EIA's newly updated data, between fiscal years 2013 and 2016, direct federal financial interventions and subsidies in energy markets decreased by nearly half, from 29.3 billion US dollars in FY 2013 to 15 billion dollars in FY 2016.

EIA's report focused on direct financial interventions by the federal government that provide financial benefits with identifiable federal budget impacts and are specifically targeted at energy markets.

EIA figures showed that between FY 2013 and FY 2016, the share of direct expenditures as part of total financial interventions and subsidies declined from 46 percent to 31 percent. This shift reflected decreasing direct expenditures for renewable electricity.

Federal subsidy support for fossil fuels declined from almost 3.9 billion dollars in FY 2013 to 489 million dollars in FY 2016. Within those fossil fuel subsidies, support for coal slightly increased, while support for natural gas and petroleum liquids decreased substantially.

Posted in: ECONOMY

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