Interior disburses $71.7 million in FY 2019 energy revenues to Utah - The Independent
Interior disburses $71.7 million in FY 2019 energy revenues to Utah
U.S. Secretary of the Interior David Bernhardt announced Oct. 24 that The Department of the Interior’s Office of Natural Resources Revenue disbursed $71.7 million in Fiscal Year 2019 energy revenues to Utah. The funds are derived from energy produced on federal and American Indian lands, as well as U.S. offshore areas.
ONRR disbursed a total $11.69 billion in FY 2019 from energy production on federal and American Indian-owned lands and offshore areas. This represents a $2.76 billion increase in comparison to FY 2018 and is nearly double the disbursements allocated at the end of the previous administration at $6.23 billion for FY 2016.
States received $2.44 billion in disbursements, and more than $1 billion was disbursed to American Indian Tribes and individual Indian mineral owners. In addition, $1.76 billion went to the Reclamation Fund, $1.0 billion to the Land and Water Conservation Fund, $150 million to the Historic Preservation Fund, and the remaining $5.35 billion to the U.S. Treasury.
Total revenues collected last year increased by 31 percent to approximately $12 billion, continuing a successful upward trend for the Trump Administration. Often the second-highest generator of federal income following taxes, energy revenue disbursements are a critical source of funding to states, Am....