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US Collects More Than $11B From Energy Royalties in FY2011
Nov. 07, 2011 12:37PM PST
Oil and Gas InvestingRigzone reported that according to the Interior Department, the U.S. government collected an excess of $11 billion in 2011 from royalties on oil, natural gas and coal production.
Rigzone reported that according to the Interior Department, the U.S. government collected an excess of $11 billion in 2011 from royalties on oil, natural gas and coal production.
As quoted in the market news:
The fiscal year 2011 revenue was higher than 2010′s revenue by about $2 billion, or 22%. But they paled in comparison to 2008 when a Gulf of Mexico lease sale helped to push the government’s annual take to more than $23 billion, Interior spokesman Patrick Etchart said. Of the $11.2 billion collected in 2011, the U.S. government distributed about $2 billion to various states. The largest recipient was Wyoming, where a lot of coal production takes place. Wyoming received more than $970 million.