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Diane Publishing Books
Oil and Gas Royalties: The Federal System for Collecting Oil and Gas Revenues Needs Comprehensive Reassessment
Frank W. Rusco (au)
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. govít. $9 billion in royalties for this devít. The govít. also collects other revenues, and the sum of all revenues received is referred to as the ďgovít. take (GT).Ē The terms and conditions under which the govít. collects these revenues are referred to as the ďoil and gas fiscal system (OGFS).Ē 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.
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