Deepwater lease sales aided U.S. economy, studies find

04/22/2010 | Oil & Gas Journal

The U.S. has been benefiting from the $3.1 billion that oil and gas companies paid for federal leases under the 1995 Deep Water Royalty Relief Act, according to studies sponsored by the American Petroleum Institute. Producers invested $37 billion into the development of deepwater leases in the Gulf of Mexico, generated work for thousands of people and boosted the economy, the studies added.

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