Taxes Paid by the Oil and Natural Gas Industry

Over the past ten years U.S. oil and natural gas
companies have paid considerably more in taxes than
the average manufacturing company. From 2011 to
2015 income tax expenses (as a share of net income
before income taxes) averaged 37 percent, compared to
25.8 percent for other S&P Industrial companies.

The U.S. oil and natural gas industry also pays the
federal government significant rents, royalties and lease
payments for production access – totaling more than
$119 billion since 2000. In fact, U.S. oil and natural gas
companies pay tens of millions of dollars to the federal
government in both income taxes and production fees
every single day.