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Report documents taxpayer cost for extracting natural resources

Via POGO – “For the first time, U.S. residents will have access to data that documents how much individual companies are paying for the extraction of natural resources from public lands, as well as a more accurate picture of job creation and economic impact in the 18 states with the most drilling and mining activity in the U.S. The data, much of it previously unavailable to the public or scattered among dozens of different agencies, is part of a groundbreaking report released this morning by the U.S. Extractive Industries Transparency Initiative (USEITI), a federal advisory committee created three years ago to help bring the United States in line with international standards. The committee comprises industry, government, and civil society representatives. POGO’s executive director, Danielle Brian, serves as chair of the civil society sector, representing the interests of taxpayers, labor unions, environmental organizations, tribal communities, academics, and other non-governmental stakeholders. The new information in the report includes the amount of royalties paid by companies for extracting oil, gas, and coal from federal lands, production volumes of natural resources being extracted on an annual basis, the impact of tax breaks and other subsidies, and details about the fiscal impact on featured communities. Users can access the USEITI report via a new website, which includes interactive and downloadable data that allows the public to take a deep dive into the information.”

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