ICYMI: In a speech today about national security, Republican presidential candidate Donald Trump cited an Institute for Energy Research study titled, “The Economic Effects of Immediately Opening Federal Lands to Oil, Gas, and Coal Leasing.”
The study, authored by Dr. Joseph Mason of Louisiana State University, assesses the economic benefits of expanding development of oil, gas, and coal resources on federal lands. This includes the potential revenue impacts, job creation, overall GDP growth, and additions in overall economic activity.
In his remarks, Donald Trump stated:
“Finally, we will have at our disposal additional revenues from unleashing American energy. The Institute for Energy Research cites a “short-run” figure of as much as $36 billion annually from increased energy production.”
Trump cited this study in previous speeches, noting that opening up federal lands for energy exploration would:
- Increase the GDP by $663 billion annually in the next thirty years
- Increase annual wages by $32 billion over the next seven years
- Increase economic activity by $20.7 trillion over the next thirty-seven years
- Generate $3.9 trillion in federal tax revenues over thirty-seven years
- Generate $1.9 trillion in state and local tax revenues over thirty-seven years
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