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Montana Fiscal Expert Says
Energy Production Taxes Key to State Budget
The state expert on fiscal policy said the natural resources industry is a critical cog in the state’s economy. “A tremendous amount of revenues go to pay not only for schools but for a lot of state and local services,” Terry Johnson, Principal Fiscal Analyst, Montana legislature, told a conference on school funding.  “Our natural resources – oil and natural gas, coal, metals – are critical to our state’s economy. When you get a flavor of how much oil and natural gas production taxes contribute to state coffers, it’s substantial,” he said.
In 2008 over $324 million was paid to the state in oil and natural gas production taxes.
Johnson noted that we have seen a decline in actual oil and natural gas production in Montana so far through 2009. “If that continues this revenue won’t be here, even if prices rebound,” he said. “The amount of production can affect our state revenues.” Johnson addressed a conference on school funding sponsored by Montana Rural Education Association, Montana Petroleum Association and Montana Taxpayers Association. “Bridges to the Future,” held over two days in Billings, explored K-12 funding and its link to natural resources development.
The conference was attended by nearly 100 people from around the state, including school board trustees and administrators, representatives from the natural resources industry and members of the Montana legislature.
The Montana Petroleum Association, Inc. is a voluntary, non-profit trade association, serving a membership of oil and natural gas producers, gathering and pipeline companies, petroleum refiners, service providers and consultants.
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