August 13, 2012
Potential Budgetary Effects of Immediately Opening Most Federal Lands to Oil and Gas Leasing
"The federal government offers private businesses the opportunity to bid on leases for the development of onshore and offshore oil and natural gas resources on federal lands—although not all federally controlled lands are open to leasing now. CBO estimates that, under current laws and policies, the government’s gross proceeds from all federal oil and gas leases on public lands will total about $150 billion over the next decade. CBO has analyzed a proposal to immediately open most federal lands to oil and gas leasing, which would affect the amounts the federal government collects in various fees and royalties both in the near term and over a longer period."