Study: Maintaining Moratoria on Federal Land Development Will Decrease GDP by US$2.36 Trillion

US federal environmental regulations and moratoria on exploration activities on federal lands will have significant impacts on the production of both natural gas and crude, as well as the US economy, according to a recent study jointly completed by the Science Applications International Corp and Gas...

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Bibliographic Details
Published in:Global refining & fuels report 2010-02, Vol.14 (4), p.2-2
Main Author: Nieto, Frank
Format: Article
Language:English
Subjects:
Economics
Gas exploration
Impact analysis
Land
Land development
Natural gas
Regulations
Utilities
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Summary:US federal environmental regulations and moratoria on exploration activities on federal lands will have significant impacts on the production of both natural gas and crude, as well as the US economy, according to a recent study jointly completed by the Science Applications International Corp and Gas Technology Institute, under the administration of the National Association of Regulatory Utility Commissioners. The nearly two-year study, "Analysis of the Social, Economic and Environmental Effects of Maintaining Oil and Gas Exploration and Production Moratoria On and Beneath Federal Lands," found that the continued moratoria on exploration of federal lands will result in the US GDP decreasing by a cumulative US$2.36 trillion, or roughly 0.52% annually, from the period of 2009 to 2030.
ISSN:1940-5162
1940-5170