Economic Impacts of Increased Crude Oil Production from Texas Oil Fields. Report 76-11-01

摘要

The importance of increasing our domestic supplies of crude oil to replace expensive, unreliable sources of foreign crude oil is obvious. If additional supplies of crude oil can be produced in the US for near world market prices of $13 per barrel, the drain on the US balance of trade can be decreased and provide increased security from the threat of a new embargo. As shown in this paper, additional supplies of crude oil from domestic sources also provide an additional stimulus to the overall economy, increasing incomes, tax revenues and employment. These opportunities for economic gain should be taken into account when assessing policies which affect the development of additional domestic supplies from secondary and enhanced oil recovery. (ERA citation 09:007216)