Abstract
This paper presents a novel methodology for estimating impacts on domestic supply of oil and natural gas from changes in the tax treatment of oil and gas production. Using this approach along with simple market models for oil and natural gas, it finds that removing the major tax preferences for the oil and gas industry would have modest impacts on global oil production, consumption, or prices. Domestic oil and gas production is estimated to decline by 4%–5% over the long run. Global oil prices would rise by less than 1%. Domestic natural gas prices are estimated to rise by 7%–10%.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Journal of the Association of Environmental and Resource Economists
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
