Download or read book Oil Gas and Coal Royalties Raising Federal Rates Could Decrease Production on Federal Lands But Increase Federal Revenue written by United States. Government Accountability Office and published by . This book was released on 2017 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: In fiscal year 2016, the federal government collected about $2.5 billion in revenue associated with onshore oil, gas, and coal production on federal lands, including about $2 billion from royalties. Federal royalty rates sometimes differ from the rates states charge for production on state lands. For example, state oil and gas rates tend to be higher than federal royalty rates and state coal rates are generally the same as federal rates in the six states representing more than 90 percent of federal oil, gas, and coal production in fiscal year 2015. This report describes what is known about how raising federal royalty rates would affect (1) oil, gas, and coal production on federal lands and (2) the federal revenue associated with such production. GAO is not making recommendations in this report.
Download or read book Oil Gas and Coal Royalties Raising Federal Rates Could Decrease Production on Federal Lands But Increase Federal Revenue written by United States. Government Accountability Office and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oil and Gas Royalties written by Mark Gaffigan and published by DIANE Publishing. This book was released on 2007-12 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amid 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.
Download or read book Oil and Gas Royalties written by Frank W. Rusco and published by DIANE Publishing. This book was released on 2009-02 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 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.
Download or read book Royalities at Risk in the Development of the Nation s Natural Resources written by Thomas Marinelli and published by Nova Science Publishers. This book was released on 2010-01-25 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: In addition to having a low government take, the deep water Gulf of Mexico and other U.S. regions are attractive targets for investment because they have large remaining oil and gas reserves and the U.S. is generally a good place to do business compared to many other countries with comparable oil and gas resources. Multiple studies completed as early as 1994 and as recently as June 2007 indicate that the U.S. government take in the Gulf of Mexico is lower than that of most other fiscal systems. For example, data GAO evaluated from a June 2007 industry consulting firm report indicated that the government take in the deep water U.S. Gulf of Mexico ranked 93rd lowest of 104 oil and gas fiscal systems evaluated. Generally, other measures indicate that the United States is an attractive target for oil and gas investment. The lack of price flexibility in royalty rates -- automatic adjustment of these rates to changes in oil and gas prices or other market conditions -- and the inability to change fiscal terms on existing leases have put pressure on Interior and the Congress to change royalty rates in the past on an ad hoc basis with consequences that could amount to billions of dollars of foregone revenue. For example, royalty relief granted on leases issued in the deep water areas of the Gulf of Mexico between 1996 and 2000 -- a period when oil and gas prices and industry profits were much lower than they are today -- could cost the federal government between $21 billion and $53 billion, depending on the outcome of ongoing litigation challenging the authority of Interior to place price thresholds that would remove the royalty relief offered on certain leases. Further, royalty rate increases in 2007 are expected to generate modest increases in federal revenues from future leases offered in the Gulf of Mexico. However, in choosing to increase royalty rates, Interior did not evaluate the entire oil and gas fiscal system to determine whether or not these increases strike the proper balance between the attractiveness of federal leases for investment and appropriate returns to the federal government for oil and gas resources. Interior does not routinely evaluate the federal oil and gas fiscal system, monitor what other governments or resource owners are receiving for their energy resources, or evaluate and compare the attractiveness of federal lands and waters for oil and gas investment with that of other oil and gas regions. As a result, Interior cannot assess whether or not there is a proper balance between the attractiveness of federal leases for investment and appropriate returns to the federal government for oil and gas resources. Specifically, Interior does not have procedures in place for evaluating the ranking of (1) the federal oil and gas fiscal system or (2) industry rates of return on federal leases against other resource owners. Interior also does not have the authority to alter tax components of the oil and gas fiscal system. All these factors are essential to inform decisions about whether or how to alter the federal oil and gas fiscal system in response to changing market conditions.
Download or read book The Leasing of Federal Lands for Fossil Fuels Production written by Stephen Macdonald and published by Routledge. This book was released on 2013-10-18 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stephen McDonald offers a basic understanding of the goals and practices by which the federal government leases its fossil fuel resources and how these practices affect the economy. Originally published in 1979
Download or read book Reforming the Federal Royalty Program for Oil and Gas written by and published by . This book was released on 2000 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reforming the Federal Royalty Program For Oil and Gas written by and published by . This book was released on 2000 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government collects royalties from businesses that hold leases to produce oil and gas on public lands. The petroleum industry has proposed several changes to the way the government manages the collection of those royalties. In addition, the government recently revised its rule for how some of the royalties are valued. Even if implemented fully, those various reforms would be unlikely to have much effect on the volume of oil and gas produced from federal leases both because the scope of the changes is small and because the level of U.S. oil and gas production is not particularly responsive to changes in prices and costs. As a result, it is likely that any gain to the petroleum industry from such reforms would simply reflect a loss of the same amount to the federal budget, and vice versa. Businesses that lease the rights to develop petroleum resources commonly pay their federal royalties as a share of the market value of the oil and gas one-eighth for production from most onshore federal lands and one-sixth from most offshore lands. In 1998, leaseholders paid a total of $3.3 billion in royalties for the right to remove federal oil and gas valued at $22.6 billion. Federal oil and gas account for 26 percent and 34 percent, respectively, of national production. For royalty purposes, the value of such oil or gas is measured as if the product were sold at the lease site (the property described in the lease contract), even though the actual sale may call for delivery away from the lease site and for enhancements to the quality of the product. Those actions add to the product's value, but they also entail costs to the producers. Disputes often arise between lessees and the government about who should shoulder which costs and what the true value of the oil or gas is back at the lease site.
Download or read book America s Energy Gamble written by Shanti Gamper-Rabindran and published by Cambridge University Press. This book was released on 2022-01-13 with total page 539 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can America get back to an energy transition that's good for the economy and the environment? That's the question at the heart of this eye-opening and richly informative dissection of the Trump administration's energy policy. The policy was ardently pro-fossil fuel and ferociously anti-regulation, implemented by manipulating science and economic analysis, putting oil and gas insiders at the helm of environmental agencies, and hacking away at democratic norms that once enjoyed bipartisan support. The impacts on the nation's health, economy, and environment were - as this book carefully demonstrates - dire. But the damage can be reversed. Ordinary Americans, civil society groups, environmental professionals, and politicians at every level all have parts to play in making sure the needed energy transition leaves no one behind. This compelling book will appeal to course instructors and students, government and industry officials, activists and journalists, and everyone concerned about the nation's future.
Download or read book A Research Agenda for Energy Politics written by Jennifer I. Considine and published by Edward Elgar Publishing. This book was released on 2023-01-20 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting cutting-edge research on the future of energy geopolitics, this visionary and provocative Research Agenda takes a hard look at the pressing issues faced by energy researchers in the new world (dis)order. This title contains one or more Open Access chapters.
Download or read book Mining Royalties written by and published by World Bank Publications. This book was released on 2006-01-01 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains a wealth of information and analysis relating to mineral royalties. Primary information includes royalty legislation from over forty nations. Analysis is comprehensive and addresses issues of importance to diverse stakeholders including government policymakers, tax administrators, society, local communities and mining companies. Extensive footnotes and citations provide a valuable resource for researchers.
Download or read book Public Land Statistics 2017 written by and published by . This book was released on with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Regimes for Extractive Industries Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
Download or read book Natural Resource Taxation in Mexico Some Considerations written by Ms. Alpa Shah and published by International Monetary Fund. This book was released on 2021-10-18 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mexico has large extractive industries and it traditionally has raised sizable fiscal revenues from the oil and gas sector. A confluence of factors—elevated commodity prices, financial challenges of the state-owned oil company Pemex, and revenue needs for financing social and public investment spending over the medium term—suggest that a review of Mexico’s taxation regimes for natural resources would be opportune, against the backdrop of a comprehensive approach to tackling Mexico’s challenges. This paper identifies opportunities for redesigning mining taxation to increase somewhat the revenue intake while maintaining the favorable investment profile of the sector. It also discusses recent reforms to the oil and gas fiscal regime and future reform considerations, with attention to the attractiveness of investment on commercial terms—an issue that should be placed in the context of an overall reform of Pemex’s business strategy and possibly of the energy sector more generally.
Download or read book Rural Communities written by Cornelia Butler Flora and published by Routledge. This book was released on 2018-03-05 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Communities in rural America are a complex mixture of peoples and cultures, ranging from miners who have been laid off in West Virginia, to Laotian immigrants relocating in Kansas to work at a beef processing plant, to entrepreneurs drawing up plans for a world-class ski resort in California's Sierra Nevada. Rural Communities: Legacy and Change uses its unique Community Capitals framework to examine how America's diverse rural communities use their various capitals (natural, cultural, human, social, political, financial, and built) to address the modern challenges that face them. Each chapter opens with a case study of a community facing a particular challenge, and is followed by a comprehensive discussion of sociological concepts to be applied to understanding the case. This narrative, topical approach makes the book accessible and engaging for undergraduate students, while its integrative approach provides them with a framework for understanding rural society based on the concepts and explanations of social science. This fifth edition is updated throughout with 2013 census data and features new and expanded coverage of health and health care, food systems and alternatives, the effects of neoliberalism and globalization on rural communities, as well as an expanded resource and activity section at the end of each chapter.
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book Tax Assignment in Federal Countries written by Charles E. McLure and published by . This book was released on 1983 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compilation of articles on how revenue sources should be divided among national and subnational levels of government. Articles deal with the following issues: the tax assignment problem, resource and business taxes and local revenues, tax assignment and revenue sharing in Brazil, India, Malaysia and Nigeria USA, Canada, Federal Republic of Germany, Switzerland and Australia.
