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State Gets $455M In Interior Energy Disbursements

on December 2, 2017 - 2:42pm
DOI News:
 
WASHINGTON, D.C.  U.S. Secretary of the Interior Ryan Zinke announced Thursday that New Mexico’s energy production disbursements, through the Interior Office of Natural Resources Revenue (ONRR), totaled $455 million in Fiscal Year 2017 (FY 2017).
 
This represents a significant increase of $86.5 from the previous year’s total. The funds are derived from energy and minerals produced on Federal and Indian lands, as well as U.S. offshore areas.
 
“Under President Trump’s American Energy Dominance agenda, we’ve increased energy funds by a billion dollars nationally, and by $86.5 million in New Mexico in our first year alone. That money goes right back to communities for things like public works projects, educational improvements, conservation and parks, and infrastructure upgrades,” Zinke said. “Energy is about more than just electricity and gas, it’s about a strong economy and strong communities. As the administration continues to cut red tape and end the over-regulation of responsible energy development, we will be able to direct more funds to local communities and create more good-paying American jobs.”
 
“The New Mexico economy relies greatly on natural resource production and development. With energy production comes good-paying jobs, lower energy costs, and much needed revenues for local New Mexican communities. This money, disbursed by the Office of Natural Resource Revenue (ONRR), will go back to New Mexico to help fund teacher’s salaries, improve our roads, and develop our communities so people and businesses can have access to greater opportunities to succeed,” Rep. Steve Pearce said.
 
During FY2017, ONRR disbursements totaled $7.11 billion overall, an increase of nearly $1 billion from the previous year. ONRR disbursed nearly $1.44 billion of the FY 2017 energy revenues to 36 states, as their cumulative share of revenues collected from oil, gas, and mineral production on Federal lands within their borders and from offshore oil and gas tracts in Federal waters adjacent to their shores. New Mexico ranked 1st in the country for FY 2017 receipts. A complete list of states receiving revenues through FY 2017 is available on the Natural Resources Revenue Data portal located at https://revenuedata.doi.gov/.
 
The $7.11 billion disbursed in FY 2017 compares to the $6.23 billion the Department disbursed in FY 2016. The increase in disbursements is primarily attributed to a larger number of lease sales totaling higher acreage, efforts to streamline permitting and reduce regulatory burdens, and higher oil and gas prices experienced during the year as the economy and exports have continued to expand.
 
All Federal, non-renewable energy revenues are collected, accounted for, analyzed, audited, and disbursed by ONRR from energy and mineral leases and other monies owed for the use of public resources on the U.S. Outer Continental Shelf and onshore Federal and American Indian lands. Since 1982, ONRR has disbursed more than $294 billion in mineral leasing revenues. ONRR makes most disbursements on a monthly basis from the royalties, rents and bonuses it collects from energy and mineral companies operating on federal lands and waters.
 
The FY 2017 disbursement data is scheduled to be published on the Natural Resources Revenue Data portal located at https://revenuedata.doi.gov/ Nov. 30, 2017.

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