The FACT Coalition

"Truly self-destructive, offering none of the nationalist upside but all of the global downside." New @opinion.bloomberg.com @markgongloff.bsky.social column on the absurd oil subsidies handed out by the U.S. highlighted in the new @factcoalition.bsky.social report. www.bloomberg.com/opinion/arti...

Report: How U.S. Tax Policy Subsidizes Oil and Gas Extraction Abroad Read FACT’s latest report analyzing the public filings of 11 U.S. multinational oil and gas companies, and breaking down the substantial tax subsidies that inform the industry’s low average tax rates ...

Our new report reveals that Americans are effectively subsidizing oil drilling overseas. Despite producing more at home than in all other countries combined, leading US oil and gas co's pay billions more in taxes to foreign petrostates than to the US.

thefactcoalition.org/report/oil-a...

Oil Subsidies Are Bad. Exporting $7.5 Billion of Them Is Worse. Giving fossil-fuel companies billions of dollars in tax breaks to pump the oil and gas heating up the planet is a terrible idea, but I guess you could argue it might at least create US jobs — unless y...

Great writeup by Bloomberg's @markgongloff.bsky.social
of FACT's new report on U.S. tax subsidies for oil and gas extraction abroad.

"Big Oil hasn’t needed government help turning a profit in a long time... It’s time our tax code, among other things, reflected that."

YouTube video by FACT Coalition Senator Whitehouse Speaks at Launch of New FACT Report on Oil and Gas Tax Subsidies

www.youtube.com/watch?v=6FTS...

Report: How U.S. Tax Policy Subsidizes Oil and Gas Extraction Abroad Read FACT’s latest report analyzing the public filings of 11 U.S. multinational oil and gas companies, and breaking down the substantial tax subsidies that inform the industry’s low average tax rates ...

WATCH - @whitehouse.senate.gov calls for the end of special tax loopholes for offshore oil and gas production. "It is past time to decorrupt our tax code." Read the new FACT report on these fossil fuel giveaways and watch the Senator's remarks here:
thefactcoalition.org/report/oil-a...

US Oil Giants Produce Mainly At Home But Send More Tax Dollars Overseas US fossil fuel giants produce most of their oil and gas domestically but pay billions more in taxes overseas than they do at home because of subsidies that have only grown during President Donald Trum...

Great coverage from @barrons.com of our new report, which finds that loopholes and subsidies in the U.S. tax code encourage companies to drill overseas. The loopholes that allow this must end, for the sake of our climate, health, and economy.
www.barrons.com/news/us-oil-...

"To address climate change, economic equity and fairness, and funding the social programs, we must repeal all the special tax breaks the oil and gas sector receives and ensure that they are paying tax rates [equal] with what they are paying globally.” - @erichpica.bsky.social of @foeus.bsky.social

Report: How U.S. Tax Policy Subsidizes Oil and Gas Extraction Abroad Read FACT’s latest report analyzing the public filings of 11 U.S. multinational oil and gas companies, and breaking down the substantial tax subsidies that inform the industry’s low average tax rates ...

Taxpayers should not have to subsidize the production of oil and gas abroad. FACT's latest report analyzes the tax disclosures of 11 U.S. oil and gas multinationals and calls for the end of the tax breaks that undermine U.S. interests and harm the planet.

thefactcoalition.org/report/oil-a...

Report Launch: “How US Tax Policy Subsidizes Oil and Gas Extraction Abroad” Register now for the in-person and online launch of FACT’s new report analyzing the tax disclosures of 11 U.S. oil and gas multinational companies, and calling for the elimination of harmful subsidies...

You still have time to register for the launch of our new report! Our amazing panelists will discuss how to more effectively tax oil and gas profits, and the impact of fossil fuel subsidies on revenues, climate, public health, and more.

thefactcoalition.org/report-launc...

Report Launch: “How US Tax Policy Subsidizes Oil and Gas Extraction Abroad” Register now for the in-person and online launch of FACT’s new report analyzing the tax disclosures of 11 U.S. oil and gas multinational companies, and calling for the elimination of harmful subsidies...

You still have time to register for the launch of our new report! Our amazing panelists will discuss how to more effectively tax oil and gas profits, and the impact of fossil fuel subsidies on revenues, climate, public health, and more.

thefactcoalition.org/report-launc...

Excellent coverage by @economist.com of the FACT Coalition's report on illegal gold mining and dirty money flows into the U.S. Read more thefactcoalition.org/report/illeg... @jyansura.bsky.social @factcoalition.bsky.social

Report Launch: “How US Tax Policy Subsidizes Oil and Gas Extraction Abroad” Register now for the in-person and online launch of FACT’s new report analyzing the tax disclosures of 11 U.S. oil and gas multinational companies, and calling for the elimination of harmful subsidies...

On Thursday, FACT will host @whitehouse.senate.gov , @erichpica.bsky.social of @friends-earth.bsky.social and @mindthegaap.bsky.social + @amyhanauer.bsky.social of @itep.org for the launch of our new report. Register now to attend in-person or online:

thefactcoalition.org/report-launc...

Just the FACTs 10/17/25 “Just the FACTs” is a round-up of news stories and information regarding efforts to combat corrupt financial practices, including offshore tax haven abuses, corporate secrecy, and money laundering thr...

NEW - FACT Coalition's latest newsletter. Read more from the frontlines in the fight against dirty money and for tax justice! @factcoalition.bsky.social thefactcoalition.org/fact-holds-e...

RSVP today. If you are in DC, join us Thursday for lunch and an all-star panel. thefactcoalition.org/report-launc...

Report Launch: “How US Tax Policy Subsidizes Oil and Gas Extraction Abroad” Register now for the in-person and online launch of FACT’s new report analyzing the tax disclosures of 11 U.S. oil and gas multinational companies, and calling for the elimination of harmful subsidies...

This Thursday, join FACT for the hybrid launch of our new report analyzing the financial disclosures of 11 U.S. oil and gas multinational companies, and calling for the elimination of subsidies for offshore drilling.

Register now:
thefactcoalition.org/report-launc...

Just the FACTs 10/17/25 “Just the FACTs” is a round-up of news stories and information regarding efforts to combat corrupt financial practices, including offshore tax haven abuses, corporate secrecy, and money laundering thr...

In the latest edition of Just the FACTs:
-FACT Holds Event for Oil and Gas Report Launch
-FinCEN Calls for Comments on IA Rule Delay
-FACT Defends Australia’s Tax Transparency Framework and more:

thefactcoalition.org/fact-holds-e...

Report Launch: “How US Tax Policy Subsidizes Oil and Gas Extraction Abroad” Register now for the in-person and online launch of FACT’s new report analyzing the tax disclosures of 11 U.S. oil and gas multinational companies, and calling for the elimination of harmful subsidies...

EVENT: Join FACT for the Oct. 23 launch of our new report, America-Last and Planet-Last – How US Tax Policy Subsidizes Oil and Gas Extraction Abroad. In person and online. @factcoalition.bsky.social thefactcoalition.org/report-launc...

Beyond Boundaries: Rethinking Conservation in the Age of Environmental Crime Environmental conservation must confront the financial engines of destruction that operate across continents, writes FACT’s Isidoro Hazbun.

NEW FACT Coalition blog from Isidoro Hazbun. 💯 "Organized crime is rewriting the rules of conservation and exposing why protecting land on paper means little without dismantling the profits driving environmental destruction." @factcoalition.bsky.social
thefactcoalition.org/beyond-bound...

Report Launch: “How US Tax Policy Subsidizes Oil and Gas Extraction Abroad” Register now for the in-person and online launch of FACT’s new report analyzing the tax disclosures of 11 U.S. oil and gas multinational companies, and calling for the elimination of harmful subsidies...

The US tax code not only subsidizes oil and gas here at home, but also - and especially - drilling abroad.

RSVP for the launch of FACT's new report calling for the end of all tax subsidies for oil and gas production, and especially for drilling abroad.
thefactcoalition.org/report-launc...

“The fossil fuel industry is still being rewarded for driving the climate crisis. We must end fossil fuel tax subsidies, reform international tax rules, & strengthen transparency. Our opponents are powerful — we can’t afford to be divided.”
@zorkamilin.bsky.social @factcoalition.bsky.social

Beyond Boundaries: Rethinking Conservation in the Age of Environmental Crime Environmental conservation must confront the financial engines of destruction that operate across continents, writes FACT’s Isidoro Hazbun.

@isidorohazbun.bsky.social argues that the rise of environmental crime neccisitates a new way of thinking about conservation. "Conservation must now confront the financial engines of destruction that operate across continents. Only then will protected areas be truly safe."

It’s way past time to hit China’s money laundering banks It’s time for Secretary Bessent to stop talking with China and start closing its dollar laundry.

Despite promising to address drug traffickers, Treasury is allowing China's money laundering networks to spread fentanyl in our communities. By gutting the Corporate Transparency Act, the US allows cartels to move their cash through our system with impunity.
thehill.com/opinion/inte...

IRS Attorney Exodus Gives Companies a Leg Up in Court Cases The IRS and Justice Department are bleeding tax lawyers, suggesting it will take longer to resolve disputes in court and raising concern the government will recover less money from taxpayers than it s...

In the wake of catastrophic funding cuts, the IRS is bleeding personnel. Our tax laws are only as strong as our ability to enforce them, and without sufficient enforcement resources, corporate tax avoidance will only worsen.

news.bloombergtax.com/daily-tax-re...

Addressing Illegal Gold Mining in the Western Hemisphere: New Approaches for U.S. Policy Read FACT’s latest report drawing on examples from Latin American countries to make the case that the crisis of illegal gold mining has become too large for the United States to ignore.

Learn more about the impacts of illegal mining and what the US can do about it in our latest report: "Addressing Illegal Gold Mining in the Western Hemisphere: New Approaches for U.S. Policy".

thefactcoalition.org/report/illeg...

Illegal gold mining is fueling a 'mercury boom' in Mexico, poisoning people and the environment The soaring price of gold is fueling a “mercury boom” in central Mexico

As the price of gold rises, so does the prevalance of harmful illegal mining. Mercury is a key metal used in the gold mining process, and has fueled the ongoing mining rush. To combat the resulting environmental damage, the US must take action.
www.washingtonpost.com/world/2025/0...

Warren, Kim, Waters Press Treasury Secretary on Delay and Potential Rollback of Anti-Money Laundering Rules for Multi-Trillion Dollar Investment Adviser Sector | United States Committee on Banking, Ho... The Official website of The United States Committee on Banking, Housing, and Urban Affairs

Lawmakers slam Treasury's decision to postpone a vital rule that would add AML safeguards to the investment adviser industry: "The decision to delay compliance leaves [our] national security and economic stability vulnerable.” Read the full letter here:
www.banking.senate.gov/newsroom/min...

Whitehouse, Van Hollen, Merkley Probe ExxonMobil’s Guyana Offshore Oil Contract and the Company’s U.S. Tax Liability - Senator Sheldon Whitehouse ExxonMobil may have used American taxpayer funds to subsidize its foreign oil production, which it does in partnership with a Chinese state-owned company Washington, DC – U.S. Senators Sheldon Whiteho...

Since we're ending tax credits for clean energy projects involving Chinese & other prohibited foreign entities, why are we giving tax credits to Exxon for its joint projects with such entities?
@whitehouse.senate.gov @vanhollen.senate.gov @merkley.senate.gov www.whitehouse.senate.gov/news/release...

FinCEN plans to delete data on U.S. companies from beneficial ownership database - ICIJ Five years after ICIJ published the FinCEN Files, the Trump administration has walked back significant anti-money laundering rules.

Earlier this month, FinCEN announced that it will delete information collected under the Corporate Transparency Act. As FACT's @ianpgary.bsky.social told @icij.org, such destruction of data would be “doubling down on Treasury’s unlawful gutting of this statute.”
www.icij.org/news/2025/09...

Congress Moves To Allow Large Corporations To Continue To Hide Tax Payments If enacted, the House Republicans’ appropriations measure would kill those rules, though its fate is uncertain.

Good tax policy requires transparency. However, House appropriators are threatening to kill new rules requiring corporations to disclose more information to shareholders about the taxes they pay. From @howardgleckman.bsky.social for @taxpolicycenter.bsky.social:

taxpolicycenter.org/taxvox/congr...

Just the FACTs 9/18/25 “Just the FACTs” is a round-up of news stories and information regarding efforts to combat corrupt financial practices, including offshore tax haven abuses, corporate secrecy, and money laundering thr...

ICYMI: FACT calls for US action to target the proceeds illegal gold mining, members of Congress call attention to the rollback anti-money laundering regulations, and more in the latest edition of Just the FACTs.

thefactcoalition.org/fact-calls-f...