The American Energy Alliance (AEA) released a study yesterday from Dr. Joseph R. Mason, Louisiana State University Endowed Chair of Banking and nationally-renowned economist, which estimates that President Obama’s proposed energy tax changes would trigger grave economic consequences.
Initial losses of over 154,000 jobs by the end of 2011, not only in the energy sector but across the whole economy;
More than $341 billion in lost U.S. economic output; and
In excess of $68 billion in lost wages nationwide.
Read the full study here (PDF) “Regional and National Economic Impact of Repealing the Section 199 Tax Deduction and Dual-capacity Tax Credit for Oil and Gas Producers.”
The Institute for Energy Research (IER) is a not-for-profit organization that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets. IER maintains that freely-functioning energy markets provide the most efficient and effective solutions to today’s global energy and environmental challenges and, as such, are critical to the well-being of individuals and society.
