The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

analysis  pennsylvania-severance-tax  oil-and-natural-gas-development  shale-energy  tax-revenues  economic-impacts  production 

Mark Green

Mark Green
Posted May 7, 2015

The oil and natural gas industry’s recent tax revenue and economic contributions to the Commonwealth of Pennsylvania look like this: more than $630 million through the state’s existing local impact fee since 2012, including $224 million in 2014 alone; more than $2.1 billion in state and local taxes; annual contributions to the state economy of $34.7 billion, boosting the bottom lines of more than 1,300 businesses in the energy supply chain.

Gov. Tom Wolf, who has proposed new industry taxes, says the state is “getting a bad deal.” We suspect a lot of states would like to have things so rough.

Nevertheless, the governor is pushing for an additional natural gas severance tax of 5 percent on the gross market value of production, plus a fixed fee of 4.7 cents per thousand cubic feet (Mcf) produced. The governor also wants an artificial floor of $2.97 per Mcf regardless of the actual price of natural gas. All suggest unfamiliarity with the story of the goose that laid golden eggs.

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offshore-energy  oil-and-natural-gas-development  outer-continental-shelf  atlantic-ocs  wind-energy  economic-benefits  tax-revenues  safe-operations 

Mark Green

Mark Green
Posted January 29, 2015

Offshore energy is getting lots of attention this week, which is good. Offshore energy is vital to America’s economy and energy security.

This week the Interior Department proposed the first draft of its next five-year program for offshore oil and natural gas leasing, in the 2017-2020 timeframe. While the draft plan doesn’t go far enough, it could include the first Atlantic lease sale in decades, and that would be a positive step. Meanwhile, on Thursday the federal government is scheduled to hold a lease sale for offshore wind in the Atlantic.

All of the above …

That’s more than a rhetorical flourish. America will need energy from all available sources in the future – thus the case for a genuine all-of-the-above strategy. We hope this week’s wind sale is successful.

Energy isn’t a zero-sum game, and neither is energy job creation. Offshore energy development of any kind can generate jobs and raise significant revenue for government. The country benefits and so do individual Americans – you know, folks holding the middle-class jobs everyone wants to support.

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maryland  safe-operations  hydraulic-fracturing  horizontal-drilling  fracking  natural-gas-development  shale-energy  tax-revenues  royalty-payments  lng-exports 

Mark Green

Mark Green
Posted December 2, 2014

Maryland Gov. Martin O’Malley’s recent announcement – that he plans to lift the state’s three-year moratorium on hydraulic fracturing, possibly clearing the way for future natural gas development – is potentially good news for the state, its citizens and America’s broader energy picture.

A new report by the state’s Department of the Environment and the Department of Natural Resources details some of the possible benefits:Garrett County in western Maryland could gain as many as 2,425 new jobs while realizing $3.6 million in tax revenues and $13.5 million in severance tax revenues.Neighboring Allegany County could see as many as 908 new jobs, $1.8 million in tax revenues and $2.3 million in severance tax revenues over 10 years. “Royalty payments to the owners and lessors of mineral rights could provide significant income,” the report says.

Significantly, the department concludes what a number of other states have found and are demonstrating – that advanced hydraulic fracturing and horizontal drilling to develop natural gas and oil from shale and other tight-rock formations can be conducted safely and efficiently.

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economic-benefits  colorado  tax-revenues  fracking  oil-and-natural-gas 

Mark Green

Mark Green
Posted May 22, 2014

Here’s another one of our new videos – featuring residents of Colorado’s Weld County, where significant oil and natural gas development is occurring thanks to shale reserves and advanced hydraulic fracturing and horizontal drilling.

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access  taxes  tax-revenues  jobs 

Mark Green

Mark Green
Posted July 19, 2013


Some important fact-telling about the president's proposals to raise energy taxes and why there's a better way to raise revenue for government while also increasing domestic oil and natural gas production. 

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tax-revenues  investments  energy  earnings  access 

Mark Green

Mark Green
Posted February 11, 2013

Let’s talk oil and natural gas company earnings. Today, three charts that illustrate some of the things we’ve been saying for some time:

  • Earnings equal return on investment, which is great news for millions of Americans – the true owners of these companies. (More here from Ken P. Cohen’s Perspectives blog.)
  • Oil and natural gas companies are investing in America in a way unsurpassed by other industries.
  • America’s oil and natural gas companies pay their fair share – and more – in taxes.

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