Colorado Receives $92 Million in Interior Department Energy Disbursements in FY2017, Increase of $8.1M from Previous Year
State sees substantial financial increase in energy disbursements as Trump Administration pushes for American energy dominance
WASHINGTON – U.S. Secretary of the Interior Ryan Zinke announced today that Colorado’s federal energy and minerals production disbursements, through the Interior Office of Natural Resources Revenue (ONRR), totaled $92,039,200 in Fiscal Year 2017 (FY 2017). This represents an increase of $8,151,810 from the previous year’s total. The funds are derived energy and minerals produced on Federal and Indian lands.
“Under President Trump’s American Energy Dominance agenda, we’ve increased energy funds by a billion dollars nationally, and by eight million dollars in Colorado in our first year alone. That money goes right back to communities for things like public works projects, educational improvements, the LWCF, and infrastructure upgrades,” Secretary Zinke said. “Energy is about more than just electricity and gas, it’s about a strong economy and strong communities. As the administration continues to cut red tape and end the over-regulation of responsible energy development, we will be able to direct more funds to local communities and create more good-paying jobs.”
“This is great news for Colorado,” said Congressman Scott Tipton. “The implementation of an all-of-the-above energy agenda not only increases access to affordable energy, but provides needed revenue for states and communities and critical job opportunities.”
During FY2017, ONRR disbursements totaled $7.11 billion overall, an increase of nearly $1 billion from the previous year. Of that, ONRR disbursed nearly $1.44 billion of the FY 2017 energy revenues to 36 states, as their cumulative share of revenues collected from oil, gas, and mineral production on Federal lands within their borders and from offshore oil and gas tracts in Federal waters adjacent to their shores. Colorado was a top energy producer, ranking 3rd for FY 2017 Federal revenues. A complete list of states receiving revenues through FY 2017 is available on ONRR’s website at: http://www.onrr.gov.
The $7.11 billion disbursed nationally in FY 2017 compares to the $6.23 billion the Department disbursed in FY 2016. The increase in disbursements is primarily attributed to a larger number of lease sales totaling higher acreage, efforts to streamline permitting and reduce regulatory burdens, and higher oil and gas prices experienced during the year as the economy and exports have continued to expand.
All Federal, non-renewable energy revenues are collected, accounted for, analyzed, audited, and disbursed by ONRR from energy and mineral leases and other monies owed for the use of public resources on the U.S. Outer Continental Shelf and onshore Federal and American Indian lands. Since 1982, ONRR has disbursed more than $294 billion in mineral leasing revenues. ONRR makes most disbursements on a monthly basis from the royalties, rents and bonuses it collects from energy and mineral companies operating on federal lands and waters.
The FY 2017 disbursement data is scheduled to be published on the Natural Resources Revenue Data portal located at https://revenuedata.doi.gov/ on November 30, 2017.