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19 Pages

Fiscal systems for oil in North America


Fiscal systems for oil in North America

Report summary

From Alaska to Washington DC and from Alberta to Newfoundland, fiscal terms for oil are under review. Legislators are keen to maximise the state / province's share of revenue but don't want to deter investors. They want their terms to be 'fair' and 'competitive' but, as we explain, comparing fiscal systems in North America is a particularly complicated undertaking.

What's included?

This report includes 1 file(s)

  • Fiscal systems for oil in North America PDF - 649.00 KB 19 Pages, 3 Tables, 12 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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  • Executive summary
  • Recent trends in state and province revenue from oil production
  • Fiscal responses and current debates
  • Resource ownership in North America
  • The main focus of debates: royalty and severance taxes
  • Multiple and variable payments make comparisons difficult
    • Lease acquisition payments
    • Property taxes
    • Fiscal incentives
  • Establishing competitive fiscal terms: complicated but necessary
    • Related Wood Mackenzie Insights
  • Appendix 1: North American fiscal systems for oil
  • Appendix 2: Recent trends in North American oil production
    • United States
    • Canada
  • Appendix 3: Land ownership in the United States

In this report there are 15 tables or charts, including:

  • Executive summary
  • Recent trends in state and province revenue from oil production
    • Figure 1: Government dependence on oil and gas income
  • Fiscal responses and current debates
    • Figure 2: Recent fiscal changes and reviews in North America
  • Resource ownership in North America
    • Figure 3: Federal share of total state land and share of oil production (2013) on federal leases
  • The main focus of debates: royalty and severance taxes
    • Figure 4: Impact of royalty / severance tax in a low price environment
  • Multiple and variable payments make comparisons difficult
    • Figure 5: Conventional oil royalty rates in Alberta
  • Establishing competitive fiscal terms: complicated but necessary
    • Figure 6: Marginal share of oil revenue (assuming maximum state royalty rates)
  • Appendix 1: North American fiscal systems for oil
    • Figure A1.1: Fiscal terms for oil in North America
    • Fiscal systems for oil in North America: Table 1
    • Fiscal systems for oil in North America: Table 2
    • Fiscal systems for oil in North America: Table 3
  • Appendix 2: Recent trends in North American oil production
    • Figure A2.1 Distribution of 2014 US oil production by state
    • Figure A2.2 Growth in US oil production by state (2009=100)
    • Figure A2.3 Distribution of 2014 Canadian oil production by province
    • Figure A2.4 Growth in Canadian oil production by province (2009=100)
  • Appendix 3: Land ownership in the United States
    • Fiscal systems for oil in North America: Image 12
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