White House’s new ‘stimulus’ plans would trigger loss of $341 billion in economic activity

Obama’s Proposed Oil and Gas Tax Hikes to Cost U.S. Economy 154,000 Jobs in 2011

By Institute for Energy Research
Wednesday, September 15, 2010

The American Energy Alliance (AEA) released a study yesterday from Dr. Joseph R. Mason, Louisiana State University Endowed Chair of Banking and nationally-renowned economist, which estimates that President Obama’s proposed energy tax changes would trigger grave economic consequences.

Initial losses of over 154,000 jobs by the end of 2011, not only in the energy sector but across the whole economy; More than $341 billion in lost U.S. economic output; and In excess of $68 billion in lost wages nationwide.Read the full study here (PDF) http://www.saveusenergyjobs.com/wp-cont ... _Study.pdf “Regional and National Economic Impact of Repealing the Section 199 Tax Deduction and Dual-capacity Tax Credit for Oil and Gas Producers.â€