Estimating the fiscal, spending, and profit impacts of offshore oil and gas activities

To enhance its capacity for assessing the economic and fiscal impacts of oil and gas activities in the Gulf of Mexico (Gulf) Outer Continental Shelf (OCS) region, BOEM developed the Cumulative Impacts Model (CIM) and the Lifecycle Impacts Model (LCIM), both of which build upon previous economic and financial analysis frameworks developed by the Bureau. The CIM estimates the economic and fiscal impacts of all OCS oil and gas activity occurring in the Gulf for the time period analyzed, which may be a recent historical year or a forecast period of up to 15 years. In contrast, the LCIM estimates the economic impacts and various metrics of financial viability associated with an individual lease or group of leases over their entire life cycle. The economic impacts estimated by the two models include the output, value added, income, and employment associated with OCS oil and gas activity. The estimates of these impacts reflect direct impacts realized by the offshore oil and gas industry, as well as spillover effects to other industries. Complementing their estimates of economic impacts, the CIM and LCIM also calculate the revenues received by federal, state, and local governments due to OCS oil and gas activities.

USD: $416,993

2017-09-27 → 2019-09-30