U.S. Oil and Gas Lease Sales up 86 Percent, $360 Million to Federal and State Treasuries

The Department of the Interior’s Bureau of Land Management (BLM) is hailing the increase in oil and gas lease sales in 2017, making it the most lucrative year in almost a decade. State offices for the agency generated $360 million in lease sales, an increase of 86 percent over the previous year. “Oil and gas lease sales on public land directly support domestic energy production and the president’s energy dominance and job growth priorities for America,” David Bernhardt, deputy secretary of Interior, said in the press release announcing the data. “[Last year] was a big year for oil and gas leasing on federal lands, and these sales provide critical revenue and job growth in rural America.” The lease sales totaled 949 parcels, covering 792,823 acres, according to BLM, which released the data in December. The revenue from lease sales is split between the states where they occur and the federal government, according to BLM. If a lease sale results in oil and gas production, revenues from royalties are also shared with the state...more

Excellent, but I think its time to ask what happened with timber, mining and livestock grazing? Similar increases?