Mineral resources : mineral volume, value, and revenue / Anne-Marie Fennell.

Format:

Book

Government document

Author/Creator:

Fennell, Anne-Marie, author.

United States. Government Accountability Office, author, issuing body.

Contributor:

United States. Government Accountability Office, author, issuing body.

Language:

English

Subjects (All):

Mines and mineral resources--United States.

Mines and mineral resources.

Public lands--United States.

Public lands.

United States.

Physical Description:

1 online resource (48 pages) : color illustrations

Other Title:

Mineral volume, value, and revenue

Place of Publication:

Washington, DC : United States Government Accountability Office, 2012.

Summary:

In summary, there were nearly 70 different types of leasable minerals extracted from federal lands and waters in fiscal years 2010 and 2011, but their volume cannot be aggregated because they use different units of measure. For example, the volumes of the four most valuable of these minerals--oil, gas, natural gas liquids, and coal--are measured in barrels, million cubic feet (mcf), gallons, and tons, respectively. According to ONRR data, the total value of all leasable minerals extracted from federal and Indian land and sold in fiscal years 2010 and 2011 was $92.3 billion and $98.6 billion, respectively. The resulting revenue to the federal government from mineral leasing activity on federal and Indian land in fiscal years 2010 and 2011 was $11.3 billion and $11.4 billion, respectively. Of this amount, oil, gas, and natural gas liquids accounted for the majority of the revenue--$10.1 billion in each fiscal year. The bulk of this revenue comes from royalties, which accounted for 92.8 percent of total revenue in 2011. Regarding the availability of data on hardrock minerals, we found that federal agencies generally do not collect data from hardrock mine operators on the amount and value of hardrock minerals extracted from federal lands because there is no federal royalty that would necessitate doing so. Furthermore, while many western states collect data on the hardrock minerals produced in their state for purposes of assessing a state royalty, they generally do not collect data on the volume of those minerals extracted from federal land within those states.

Notes:

Title from title screen (viewed Dec. 27, 2012).

"November 15, 2012."

Includes bibliographical references.

"GAO-13-45R."

OCLC:

823517412