News Summary: States weigh tax policy on drilling

Associated Press

SLIPPERY SLOPE: Lawmakers and policymakers are weighing how to use taxes and fees on oil and gas production to bolster state budgets and economies without alienating local communities or scaring away energy development.

DRILLING DOWN: At least 36 states impose some sort of severance tax on oil, gas, coal, timber and minerals, which generated more than $11 billion in revenue in 2010.

DRY WELLS: A dozen states since 2011 have tried to impose new taxes on oil and gas production or amend existing taxes, according to the National Conference of State Legislatures. Most efforts came up empty.

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