Low Oil and Natural Gas Prices Hurt Federal Minerals Revenue in Rockies

Posted December 4, 2015 at 6:10am

The Associated Press reports: “Bad news for Rocky Mountain states with lots of fossil-fuel development on federal lands: Low prices for oil and natural gas have driven federal minerals revenue down to the lowest point in five years, even as oil and gas production booms nationwide.”  

“The federal Office of Natural Resources Revenue tracks federal revenue from sales of fossil fuels including oil and gas. Revenue from both offshore and onshore development nationwide over the 2015 federal fiscal year was $9.9 billion, down 26 percent from 2014’s $13.4 billion, according to figures released by the agency this week.”