Assessing the Impacts of Increased Access Versus Higher Taxes on U.S. Oil and Natural Gas Production, Government Revenue, and Employment

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01/03/2011

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A January 2011 study from Wood Mackenzie, commissioned by API, compared the impacts of two scenarios: the first would raise government revenues fro... (More) A January 2011 study from Wood Mackenzie, commissioned by API, compared the impacts of two scenarios: the first would raise government revenues from fees and payments associated with increased access to oil and natural gas areas that are currently off-limits to development, and the second would raise government revenues from an additional $5 billion per year in taxes on the oil and natural gas industry. The study found that increased access would lead to additional government revenue and jobs while higher taxes would lead to job losses and less revenue for government. (Less)