Revenues and Disbursements from Oil and Natural Gas Production on Federal Lands
Author: Tracy
Publisher:
Published: 2020
Total Pages: 0
ISBN-13:
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Oil and Gas Royalties
Author: Frank W. Rusco
Publisher: DIANE Publishing
Published: 2009-02
Total Pages: 44
ISBN-13: 1437909752
DOWNLOAD EBOOKIn FY 2007, domestic and foreign co. received over $75 billion from the sale of oil and gas produced from fed. lands and waters. These co. paid the fed. gov¿t. $9 billion in royalties for this dev¿t. The gov¿t. also collects other revenues, and the sum of all revenues received is referred to as the ¿gov¿t. take (GT).¿ The terms and conditions under which the gov¿t. collects these revenues are referred to as the ¿oil and gas fiscal system (OGFS).¿ This report: (1) evaluates GT and the attractiveness for investors of the fed. oil and gas fiscal system; (2) evaluates how the absence of flexibility in this system has led to large foregone revenues; and (3) assesses what has been done to monitor the performance and appropriateness of the OGFS. Illustrations.
Oil and Gas Royalties
Author: Mark Gaffigan
Publisher: DIANE Publishing
Published: 2007-12
Total Pages: 18
ISBN-13: 9781422319079
DOWNLOAD EBOOKAmid rising oil & gas prices & reports of record oil industry profits, a number of gov'ts., such as the State of Alaska, have taken steps to reevaluate &, in some cases, increase the share of oil & gas revenues they receive for the rights to develop oil & gas on their lands & waters. In FY 2006, oil & gas co. received over $77 billion from the sale of oil & gas produced from fed. lands & waters, & the Dept. of the Interior reported that these co. paid the fed. gov¿t. $10 billion in oil & gas royalties. This report documents the U.S. gov¿ts. take & implications assoc. with increasing royalty rates. It discusses: the U.S. gov¿ts. take relative to that of other gov¿t. resource owners; & the potential revenue implications of raising royalty rates on fed. oil & gas leases going forward. Illus.
Options for Increasing Federal Income from Crude Oil and Natural Gas on Federal Lands
Author:
Publisher:
Published: 2016-05-22
Total Pages: 42
ISBN-13: 9781457873249
DOWNLOAD EBOOKThe production of oil and natural gas in the U.S. has increased rapidly. As of 2014, domestic production of crude oil had grown to about half of total consumption, and domestic production of natural gas represented almost 95% of total consumption. Domestic oil and gas production on federal lands or in federal waters off the coast of the U.S. represented about one-fifth of total U.S. production in 2014. Contents of this report: How the Government Currently Manages Access to Crude Oil and Natural Gas on Federal Lands; How Much Income the Government Has Collected from Oil and Gas Leasing; The Current Process for Managing Access to Crude oil and Natural Gas on Federal Lands; Selected Policy Options to Increase Federal Income. Tables and figures. This is a print on demand report.
Report to the Federal Trade Commission on Federal Energy Land Policy
Author: United States. Bureau of Competition
Publisher:
Published: 1976
Total Pages: 982
ISBN-13:
DOWNLOAD EBOOKOil and Gas Resources
Author: United States Government Accountability Office
Publisher: Createspace Independent Publishing Platform
Published: 2017-10-05
Total Pages: 68
ISBN-13: 9781977943828
DOWNLOAD EBOOKProduction of oil and natural gas from leased federal lands and waters is a significant source of revenue for the federal government-accounting for almost $48 billion for fiscal years 2009 through 2013. GAO has issued many reports on Interior's management of federal oil and gas resources, including its programs for verifying oil and gas production volumes and ensuring accurate royalty collections. These reports raised questions about whether the government was collecting all the revenue it was due and included 36 recommendations to strengthen royalty collection, among other things. In 2011, GAO added Interior's management of federal oil and gas resources to its list of programs at high risk of fraud, waste, abuse, and mismanagement. GAO was asked to review Interior's efforts to improve verification of oil and gas produced from federal leases and the accuracy of royalty data. This report examines efforts Interior has taken since fiscal year 2009 and the reasonableness and completeness of Interior's royalty data. GAO reviewed relevant laws, regulations, and guidance; analyzed Interior data for fiscal years 2009 through 2013; and interviewed Interior officials.
Federal Income from Crude Oil and Natural Gas
Author: Nelson Holloway
Publisher: Nova Science Publishers
Published: 2016
Total Pages: 0
ISBN-13: 9781634858694
DOWNLOAD EBOOKThe production of oil and natural gas in the United States has increased rapidly over the past decade. As of 2014, domestic production of crude oil had grown to about half of total consumption, and domestic production of natural gas represented almost 95 percent of total consumption. Domestic oil and gas production occurring on federal lands or in federal waters off the coast of the United States represented about one-fifth of total U.S. production in 2014. The Energy Information Administration (EIA) projects crude oil prices to average in the lower to upper $50 per barrel range through 2015. This lower price, if sustained, may impact long term oil development and lower production volumes. This book focuses on issues and options for federal income from crude oil and natural gas. It discusses potential budgetary effects of immediately opening most federal lands to oil and gas leasing, reviews U.S. crude oil and natural gas production in federal and non-federal areas, and provides a legal framework for offshore oil and gas development.
Collection and Disposition of Federal Oil and Gas Royalties Taken In-kind
Author: United States. Congress. House. Committee on Resources. Subcommittee on Energy and Mineral Resources
Publisher:
Published: 2002
Total Pages: 72
ISBN-13:
DOWNLOAD EBOOKOil and Gas Resources
Author: U.s. Government Accountability Office
Publisher:
Published: 2017-08-04
Total Pages: 38
ISBN-13: 9781974242726
DOWNLOAD EBOOK"Why GAO Did This StudyIn fiscal year 2012, companies received over $66 billion from the sale of oil and gas produced from federal lands and waters, and they paid $10 billion to the federal government for developing these resources according to the Department of the Interior. The federal government seeks a fair return on its share of revenue from leasing and production activities on federal lands and waters through the federal oil and gas fiscal system. Under the fiscal system, companies pay royalties, rents, and other payments-payments generally specified in lease terms-and taxes on profits from the sale of oil and gas produced from federal leases. In May 2007, GAO found, based on several studies, that the government received one of the lowest percentages of value of oil and gas produced in the world. In September 2008, GAO found that Interior had not evaluated the federal oil and gas fiscal system for over 25 years and recommended that a periodic assessment was needed.GAO was asked to review Interior's collection of oil and gas revenues. This report examines steps Interior has taken to ensure the public receives a fair return on oil and gas resources since 2007. GAO reviewed applicable law and regulations; examined prior GAO studies, Interior policies and documents; and interviewed officials.What GAO RecommendsGAO recommendations include that Interior establish documented procedures for (1) periodically assessing the fiscal system and ("
Oil and Gas Royalties
Author: Frank Rusco
Publisher: DIANE Publishing
Published: 2010-03
Total Pages: 17
ISBN-13: 1437911528
DOWNLOAD EBOOKIn FY 2007, the Minerals Mgmt. Service (MMS) collected over $9 billion in oil and natural gas royalties and disbursed these funds to fed., state, and tribal accounts. MMS sells the oil and gas it receives through the royalty-in-kind program and disburses the revenues received from the sales to fed. and state recipients. This report highlights oversight issues related to MMS's royalty-in-kind program raised in that testimony and assesses: (1) the extent to which MMS has reasonable assurance that it is collecting the correct amounts of royalty-in-kind oil and gas; and (2) the reliability of the info. on the performance of the royalty-in-kind program contained in MMS's annual report to the Congress. Charts and tables.
