Revenue lost by not drilling

John Peterson calculates the royalties lost by not drilling at $2.576 trillion. He may be a little on the high side, but I did a similar calculation based on known reserves and the current market price multiplied times the normal royalties paid the government and came up with a figure that is pretty close. I think his is more because he included royalties on natural gas production too.

It is enough to pay off the national debt and pay for social security with out a tax increase. It is the latter that must bother Democrats the most.

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