Last week, the American Energy Alliance (AEA) released a new paper [.pdf] by LSU economist Joseph Mason arguing that--contrary to their stated purpose--the Administration's proposed tax changes involving the oil industry would not increase federal revenues once we consider the impact on total economic activity.  In fact, Mason predicts just the opposite: increasing tax rates will lower revenues, lower economic activity, and create fewer jobs. Mason instead proposed that unshackling the development of American mineral resources would promote the Administration's stated goal of economic growth while reducing the long-term budget deficit.
