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Washington's Budget Choice

Washington's Budget Choice

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Publicado porEnergy Tomorrow
Higher oil and natural gas industry taxes could reduce government revenue, cost jobs and cut domestic production.
Higher oil and natural gas industry taxes could reduce government revenue, cost jobs and cut domestic production.

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Published by: Energy Tomorrow on Jul 05, 2011
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11/09/2012

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America’s choice

increase
oil & natural gas development

2020

raise
oil & natural gas taxes

jobs
+ 1,100,000 jobs

jobs
- 48,000 jobs

government revenue
+ $127 billion

$

government revenue
- $29 billion

energy production
+ 4 million barrels’ worth of oil and natural gas per day

energy production
- 700,000 barrels’ worth of oil and natural gas per day

Source: WoodMackenzie Energy Consulting, http://www.api.org/Newsroom/upload/API-US_Supply_Economic_Forecast.pdf; and http://www.api.org/policy/tax/recentstudiesandresearch/upload/SOAE_Wood_Mackenzie_Access_vs_Taxes.pdf

America’s choice
increase
oil & natural gas development

2030

raise
oil & natural gas taxes

jobs
+ 1,400,000 jobs

jobs
- 22,000 jobs

government revenue
+ $800 billion

$

government revenue
- $223 billion

energy production
+ 10 million barrels’ worth of oil and natural gas per day

energy production
- 280,000 barrels’ worth of oil and natural gas per day

Source: WoodMackenzie Energy Consulting, http://www.api.org/Newsroom/upload/API-US_Supply_Economic_Forecast.pdf; and http://www.api.org/policy/tax/recentstudiesandresearch/upload/SOAE_Wood_Mackenzie_Access_vs_Taxes.pdf

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