Expanded Oil, Gas Leasing Would Make $7B For US, CBO Says

Law360, New York (August 9, 2012, 7:56 PM EDT) -- Immediately allowing oil and gas leasing on public lands where drilling is currently banned would add about $7 billion to the $150 billion the federal government expects to collect from leases over the next decade, according to a Congressional Budget Office report released Thursday.

Prepared at the request of House Budget Committee Chairman Paul Ryan, R-Wis., the report examined the budgetary impact of Republican-backed legislation to open most off-limits public lands in the Arctic, the Gulf of Mexico, and the Atlantic and Pacific oceans to new...
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