CBO drilling revenue projection differs with industry estimates
Friday, August 10, 2012 - 00:30
in Earth & Climate
A Congressional Budget Office report finds that opening the Arctic National Wildlife Refuge and other federal land would bring modest federal revenues, despite more optimistic projections by the oil and gas industry.WASHINGTON — Opening nearly all federal land to oil and gas drilling — including the Arctic National Wildlife Refuge — would bring modest revenues to the U.S. budget over the next decade, according to a new report by the nonpartisan Congressional Budget Office prepared at the behest of Republican lawmakers.