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In 2007, state severance taxes amounted to $10.7 billion, mostly from oil, gas, and coal. States also received 50 percent of federal onshore oil and gas lease revenues within their borders, and 27 percent of federal offshore oil and gas revenues adjacent to their shorelines; the state share of federal revenues totalled $2.0 billion in 2007. [45]
In part "it depends on what the price is," he added. Trump often focused for weeks on Canadian tariffs even as the economic effects of a standoff with America ... to gas prices, we expect oil and ...
And as Trump himself often said during the campaign, energy costs — which become transportation costs in the supply chain – also drive consumer pricing. Given Canada’s share of the U.S. energy supply, gas prices could increase, especially in the Midwest, where so much Canadian crude oil is refined.
The upstream capital costs index (UCCI), formally known as IHS/CERA upstream capital costs index, is a proprietary index of the rate of inflation seen in the costs associated with the construction of a global portfolio of 28 upstream oil and gas projects.
Oil slipped on Tuesday as traders priced in the possibility of tariffs against trading partners Canada and Mexico and executive orders aimed at boosting US production.
A 2012 study by the Bureau of Ocean Energy Management (BOEM) (part of the U.S. Department of the Interior) estimated undiscovered technically recoverable oil and gas resources in Atlantic federal waters to be 3.30 billion barrels of oil (Bbo) and 31.28 trillion cubic feet (Tcf) of gas. [6]
After gas prices hit a peak in 2022, the EIA forecasts they’ll drop to a national average of about $3.32 per gallon this year and $3.09 by 2024 — though of course if a debt ceiling crisis ...
In 2008, federal leases in the Gulf of Mexico produced 418 million barrels (66,500,000 m 3) of oil, down from 568 million barrels (90,300,000 m 3) in 2002; however, due to new deep-water discoveries, the MMS projects that oil production from the Gulf of Mexico will increase to 686 million barrels (109,100,000 m 3) per year by 2013.