@techreport{NBERw13753,
 title = "Using Tax Expenditures to Achieve Energy Policy Goals",
 author = "Gilbert E. Metcalf",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "13753",
 year = "2008",
 month = "January",
 URL = "http://www.nber.org/papers/w13753",
 abstract = {Tax expenditures are a major source of support for energy related activities in the federal budget exceeding direct budget support for energy by a factor of nearly six.  Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures highly cost ineffective at best and counterproductive at worse.  The tax credit for ethanol is an example of a cost ineffective subsidy.  The cost of reducing CO2 emissions through this subsidy exceeded $1,700 per ton of CO2 avoided in 2006 and the cost of reducing oil consumption over $85 per barrel.},
}