Study: Tax Hike Would Curb Oil, Gas Output

摘要

Oil and natural gas companies are ramping up their lobbying efforts against legislative pro- posals that would end tax breaks for producers, potentially cutting domestic output by up to 10% over the next decade. A study by consultant Wood Mackenzie, paid for by the American Petroleum Institute (API), found that removing tax breaks could cut investment in the development of up to one-third of the 230 fields analyzed. Natural gas would be hit hardest, with domestic out- put falling by up to 27 trillion cubic feet over the next 10 years, along with 700 million barrels of domestic oil output.