Collection And Disposition Of Federal Oil And Gas Royalties Taken In Kind

Collection and disposition of federal oil and gas royalties taken in-kind : oversight hearing before the Subcommittee on Energy and Mineral Resources of the Committee on Resource, U.S. House of Representatives, One Hundred Seventh Congress, first session, June 12, 2001.

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.

The Serial Set contains the House and Senate Documents and the House and Senate Reports. This volume includes House Reports from 108th Congress, 1st Session, 2003.