According to a 2015 estimate by the Obama administration, the US oil industry benefited from subsidies of about $4.6 billion per year.[2] A 2017 study by researchers at Stockholm Environment Institute published in the journal Nature Energy estimated that "tax preferences and other subsidies push nearly half of new, yet-to-be-developed oil investments into profitability, potentially increasing US oil production by 17 billion barrels over the next few decades."[3]