Fossil-fuel firms receive US subsidies worth $31bn each year, study finds

Figure calculated by Oil Change International has more than doubled since 2017 but is likely a vast understatement

The US currently subsidizes the fossil-fuel industry to the tune of nearly $31bn per year, according to a new analysis.

That figure, calculated by the environmental campaign group Oil Change International, has more than doubled since 2017. And it is likely a vast understatement, due to the difficulty of quantifying the financial gains from some government supports, and to a lack of transparency and reliable data from government sources, the group says.