Edited by Catherine L. Kling, Cornell University, Ithaca, NY, and approved February 9, 2021 (received for review June 10, 2020)There are real and substantial financial implications to fossil fuel producers of policies that seek to correct market failures brought about by climate change, adverse health effects from local pollution, and inefficient transportation. The producer benefits of the existing policy regime in the United States are estimated at $62 billion annually during normal economic conditions. This translates into large amounts for individual companies due to the relatively...…Edited by Catherine L. Kling, Cornell University, Ithaca, NY, and approved February 9, 2021 (received for review June 10, 2020)There are real and substantial financial implications to fossil fuel producers of policies that seek to correct market failures brought about by climate change, adverse health effects from local pollution, and inefficient transportation. The producer benefits of the existing policy regime in the United States are estimated at $62 billion annually during normal economic conditions. This translates into large amounts for individual companies due to the relatively...WW…