Colorado gets $130 million in energy revenue
Colorado received $130 million in revenue generated by energy production on public lands during the 2013 fiscal year, the U.S. Department of Interior announced.
The revenue was part of more than $14.2 billion the department disbursed to state and local accounts as well as federal and tribal accounts. The total was $2 billion, or 17 percent, higher than last year.
“Domestic energy production infuses funding into communities across the United States that creates American jobs, fosters land and water conservation efforts, improves critical infrastructure and supports education,” Interior Secretary Sally Jewell stated in a news release.
“The funding reflects significant energy production from public resources in the United States and serves as a critical revenue stream for federal and state governments and tribal communities,” Jewell added.
More than $2 billion of the FY 2013 energy revenues were disbursed to 35 states as their cumulative share of revenues collected from oil, natural gas and mineral production on federal lands within their borders and from offshore oil and gas tracts adjacent to their shores.
Colorado ranked fourth among 35 states in receiving the largest energy revenue disbursements. Wyoming was first with $933 million, followed by New Mexico with $479 million and Utah with $138 million.
A total of $8.6 billion was disbursed to the U.S. Treasury to fund programs for the entire nation, making mineral revenue disbursements one of the largest sources of non-tax revenue. The disbursements also fund several special use accounts in the U.S. Treasury, including FY 2013 transfers of $895.6 million to the Land & Water Conservation Fund, $1.59 billion to the Reclamation Fund and $150 million to the Historic Preservation Fund.
Federal energy revenues are collected and disbursed by the Department of Interior Office of Natural Resources Revenue. The office makes disbursements on a monthly basis from the royalties, rents and bonuses it collects from energy and mineral companies.
The increase in FY 2013 disbursements was attributed to $2.77 billion in bonus bids received for new oil and gas leases in federal waters off the Gulf of Mexico. That includes two lease sales in FY 2013 and one sale in FY 2012 that was adjudicated in 2013, when the disbursements were made.