IER estimates $14.4 Trillion oil & gas addition to economy over 4 decadesFebruary 25, 2013
The Congressional Budget Office recently released a study on the financial impact of extending oil and gas leases on federal lands. However, that study was limited to lease revenues only. The Institute for Energy Research has conducted a full “nose to tail” analysis of the economic impacts of an aggressive leasing structure, and has found a significant long term financial benefits: Tens of billions of tax dollars annually for both Federal and State governments; millions of new jobs, and a possible total addition of $14.4 trillion to the national gross domestic product.
We have the resources to fuel a second American Century, if we can find the will to maximize them.