how much money does the government give to oil companies?
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Conservative estimates put U.S. direct subsidies to the fossil fuel industry at roughly $20 billion per year; with 20 percent currently allocated to coal and 80 percent to natural gas and crude oil. European Union subsidies are estimated to total 55 billion euros annually.
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['Venezuela. > Total resource value: $14.3 trillion. ... ', 'Iraq. > Total resource value: $15.9 trillion. ... ', 'Australia. > Total resource value: $19.9 trillion. ... ', 'Brazil. > Total resource value: $21.8 trillion. ... ', 'China. > Total resource value: $23 trillion.']
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Alaska. With Alaska's Permanent Fund, residents receive roughly $2,000 per year thanks to the state's oil royalties. This amount varies each year, but free money is given to residents and their kids. In 2015, that amount was $2,072 a person.
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If you select a high efficiency system, you'll pay $3,500 to $5,500 for gas, compared with $4,500 to $10,000 for oil. A high-efficiency unit of either kind may be eligible for a tax credit of up to $300, as well as local incentives.
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Federal tax revenues Federal fuel taxes raised $36.4 billion in Fiscal Year 2016, with $26.1 billion raised from gasoline taxes and $10.3 billion raised from taxes on diesel and special motor fuels. The tax was last raised in 1993 and is not indexed to inflation. Total inflation from 1993 until 2017 was 68 percent.
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Conventional petroleum currently has an estimated EROI of around 15 to 1 - such that for every unit of energy required to get oil to a consumer, the resulting oil contains 15 units of energy.
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And it may be getting worse. Tesla spends $1 million annually on Washington lobbyists. Its cars are financed by over $280 million in federal tax incentives, including a $7,500 federal tax break and millions more in state rebates and development fees. SpaceX has also received over $5 billion in government support.
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In Canada, the federal, provincial and municipal governments collect money from individuals and companies to help pay for government programs and services, such as roads, public utilities, schools, health care, economic development and cultural activities.
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With approximately 14.4 billion U.S. dollars, it was responsible for around 83 percent of the company's net income – not accounting for corporate and financing loss – in 2019. In the same year, ExxonMobil Upstream's liquids production output was some 2.4 million barrels per day.
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Last winter, heating a house with oil cost an average of $1,700, while natural gas averaged less than $900, according to the US Energy Information Administration.
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HM Queen Elizabeth II According to The Royal Family's official website, the total Sovereign Grant for 2018-2019 is $107.3 million. The grant for 2019-2020 is $107,573,200 -- Core $64,491,700 and Reservicing $43,081,500.
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The IMF estimates that annual energy subsidies in Australia total $29 billion, representing 2.3 per cent of Australian GDP. On a per capita basis, Australian fossil fuel subsidies amount to $1,198 per person. ... The under-pricing of fossil fuels, particularly coal, was found to be the largest source of effective subsidy.
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In fiscal year 2019, the federal government spent $4.4 trillion, amounting to 21 percent of the nation's gross domestic product (GDP). Of that $4.4 trillion, over $3.5 trillion was financed by federal revenues. The remaining amount ($984 billion) was financed by borrowing.
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The L300 consumes about 16 barrels of petroleum per year, according to the standard estimate of 15,000 miles driven. Most of the world's petroleum comes from countries like Russia, Saudi Arabia, the U.S., and Iraq.
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In 2014, the Federal Government spent $32.8 billion on transportation (excluding federal transfers to states), and state and local governments spent $291.2 billion (including expenditures paid for with federal transfers, such as the Federal-Aid Highway Program and the Airport and Airway Trust Fund).
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Tobacco companies paid about $8 billion in taxes in 2017-18. Some $3 billion went to the federal government, with 10 provinces splitting the remaining $5 billion.
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The money this raises for the government is used to cover the cost of highway maintenance, upkeep and safety improvements. It's designed to make sure road users are the ones covering the cost of the roads they use, but the tax doesn't pay for roads directly and instead it gets put into central government funds.