Skip to comments.States to lose $415 million in oil and gas royalties over decade from budget deal(Mnt. West States)
Posted on 12/21/2013 10:51:45 AM PST by Red Steel
Budget deal cuts oil and gas royalties to states
The budget deal in Congress will cost Wyoming, New Mexico and other states $415 million in lost oil and gas royalties over the next decade, according to the Congressional Budget Office.
Legislation implementing the agreement makes permanent an effective 51-49 percent split that favors the federal government in dividing the 12.5 percent royalty collected from energy companies on oil and gas production on federal land. Until 2008 when the Interior Department began setting aside 2 percent of the royalties as an administrative fee, the split between the federal and state government had been 50-50. The administrative fee, renewed several times by Congress, had been scheduled to expire in January.
The government last year paid $2.1 billion to 35 states under the royalties-splitting program for on-shore oil and gas production on federal lands. The largest payments went to five Western states: Wyoming, New Mexico, Utah, Colorado and California.
Returning to the effective 50-50 split would have provided Wyoming an extra $19 million next year and nearly $200 million over the next decade. New Mexico would have collected an additional $10 million next year and Utah $2.8 million.
While supporting the budget deal, Rep. Rob Bishop, R-Utah, said making the 51-49 split on royalties permanent "has an extremely negative impact, primarily on the Mountain West."
(Excerpt) Read more at newser.com ...
Article by MATTHEW DALY Dec 18, 2013 3:47 PM CST
Ryan and the establishment are not going to have a banner new year. Add to it, this Bishop guy can’t have it both ways. Everyone who voted for this piece of crap are now openly talking out of both sides of their mouths.
Maybe it has come to the point that filing deadlines have passed for true (little r) republican challengers.
Who was president in 2008? The same guy who abolished civil liberties and established a police state, wasn't it? They guy that said we couldn't fly while allowing Saudis to fly around the country in chartered jets?
Tell me again why I'm supposed to vote for any Republican on the ballot?
Makes you wonder when one of the states will decide to make it a 100-0 split.
Colorado Ping ( Let me know if you wish to be added or removed from the list.)
Gradually, inexorably, state and local governments in myriad ways, some small and hidden, are being deprived of revenue sources and thus rendered incapable and ineffective in providing even basic and necessary public services.
The Federal Office of the Chief Executive is to be solely in control.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.