Would oil leasing in the Arctic National Wildlife Refuge bring significant revenues to the American public?
Not necessarily, revenues are determined by the price of oil and the competitive nature of bidding for leasing rights. According to the Congressional Budget Office, if oil sells for $18 a barrel and the development produces 2.4 billion barrels of oil over a 10 year period, then the government will earn around $1.15 billion (with an equal amount going to the State of Alaska). However, should oil prices fall to $15 per barrel, leasing would not generate any significant proceeds. 7. Would oil leasing in the Arctic National Wildlife Refuge bring significant revenues to oil companies? Yes. While the American public is paying higher and higher prices for petroleum and natural gas products, the oil companies are celebrating a period of prosperity. Based on information reflecting the substantial rise in oil prices, Richard Fineberg, a respected Alaska analyst estimated as of April 2000 that the FY 2000 share of the revenue pie for the industry exceeded $2.8 billion in after-tax profits. 8. Wha
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