Wyoming earns a big share of US energy pie
The state of Wyoming will get a $563,955,000 check from the Office of Natural Resources Revenue. It represents fiscal year 2018 energy revenues, derived from energy produced on federal, offshore, and Indian lands.
Interior Secretary Ryan Zinke said, “for a second year, energy disbursements are up, this year by $1.82 billion, for a total of $8.93 billion that will be shared with states and Tribes. This critical source of funding will be used for educational and infrastructure improvements and land and water conservation projects, and to create good-paying American jobs.”
The increase is primarily attributed to higher oil prices, increased oil production, expedited permitting, streamlined regulations, and increased demand.
The revenue is derived from energy and mineral leases and other money owed for the use of public resources on federal and Indian lands.
According to the ONRR, extraction industries accounted for 20.3 percent of the Wyoming gross domestic product in 2016. Jobs in those industries accounted for 6.9 percent of statewide employment.
There is no question Wyoming is an “energy state.” Wyoming leads the nation, with 40 percent of total U.S. coal production. It is number 5 in the nation in production of natural gas (5 percent of total production).
The state is one of the country’s centers for uranium production and produced 1.9 percent of U.S. wind energy. And non-energy mineral production was valued at over $2.26 billion.
You can find full details about Wyoming’s extraction industries here.
