Mr. Erik Milito - The House Committee on Natural Resources ...

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Project Background
API has requested Wood Mackenzie to undertake a study
which examines the implications of increasing exploration and
development access in 5 key US regions currently closed to
development. <strong>The</strong> 5 key regions are the Eastern Gulf of
Mexico, portions of the Rocky Mountains, ANWR, and the
Atlantic and Pacific Outer Continental Shelf (OCS).
Additionally, Wood Mackenzie has contrasted this ‘Access’
study with an analysis of the potential threat to production and
jobs associated with increasing taxation on the oil and gas
industry at a rate of $5 billion per year, which was less than
the amount that was considered by the US Congress and
Administration in 2010. <strong>The</strong> taxes were applied on both an
income and production basis so as to capture the impacts of
the slate of proposed taxes put forward by the Administration
in 2010.
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