Download or read book Options for Increasing Federal Income from Crude Oil and Natural Gas on Federal Lands written by and published by . This book was released on 2016-05-22 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 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.
Download or read book Options for Increasing Federal Income from Crude Oil and Natural Gas on Federal Lands written by Andrew Stocking and published by . This book was released on 2016 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Income from Crude Oil and Natural Gas written by Nelson Holloway and published by . This book was released on 2016 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 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.
Download or read book Actions Needed to Increase Federal Onshore Oil and Gas Exploration and Development written by United States. General Accounting Office and published by . This book was released on 1981 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Collection and Disposition of Federal Oil and Gas Royalties Taken In kind written by United States. Congress. House. Committee on Resources. Subcommittee on Energy and Mineral Resources and published by . This book was released on 2002 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 205 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 Harnessing American Resources to Create Jobs Address Rising Gasoline Prices written by United States. Congress. House. Committee on Natural Resources and published by . This book was released on 2011 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Revenues and Disbursements from Oil and Natural Gas Production on Federal Lands written by Tracy and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oil and Gas Resources written by U.s. Government Accountability Office and published by . This book was released on 2017-08-04 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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 ("
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 The Future of U S Oil and Natural Gas Development on Federal Lands and Waters written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-14 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: The future of U.S. oil and natural gas development on federal lands and waters : oversight hearing before the Committee on Natural Resources, U.S. House of Representatives, One Hundred Twelfth Congress, first session, Wednesday, November 16, 2011.
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 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 U S Crude Oil and Natural Gas Production in Federal and Non federal Areas written by and published by . This book was released on 2016 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Natural Resources Code written by Texas and published by . This book was released on 1978 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Land Use Planning and Oil and Gas Leasing on Onshore Federal Lands written by National Research Council (U.S.). Committee on Onshore Oil and Gas Leasing and published by National Academies. This book was released on 1989 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
