DOI energy revenue payouts up $1B in 2012
The Department of the Interior is reporting that it paid out $12.2 billion in revenue generated from energy production on public lands and offshore areas in Fiscal Year 2012.
The disbursements to state, federal and tribal accounts mark a $1 billion increase over the previous year. The increase is primarily attributed to bonus bids received for new oil, gas and coal lease sales, as well as continuing improvements and reform efforts in the Department's Office of Natural Resources revenue.
"These revenues reflect significant domestic energy production…and provide a vital revenue stream for federal and state governments and American Indian communities, particularly as the economy continues to gain strength," said Secretary of the Interior Ken Salazar. "These revenues support much-needed initiatives across the nation that create American jobs and fund power and water development in the West, critical infrastructure improvements, funding for education, and land and water conservation projects."