Oil and Gas Royalties: The Federal System for Collecting Oil and Gas Revenues Needs Comprehensive Reassessment

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DIANE Publishing, Feb 1, 2009 - Offshore oil and gas leases - 39 pages
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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.
 

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