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Tag Archives: oil revenue

Oil bust leaves states with massive well cleanup

derrick, oil well,

BIGFOOT, Texas (AP) — The worst oil bust since the 1980s is putting Texas and other oil producing states on the hook for thousands of newly abandoned drilling sites at a time when they have little money to plug wells and seal off environmental hazards. As U.S. rig counts plunge to historic lows, and with at least 60 oil producers ...

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Louisiana editorial roundup

Recent editorials from Louisiana newspapers: ____ Feb. 10 The Times-Picayune on offshore oil revenue: There are some numbers that everybody concerned about Louisiana’s eroding coast knows offhand. Every 38 minutes, the state loses about a football-field-sized chunk of land. In 2017, the state is scheduled to receive 37.5 percent of the royalties that come from offshore oil and gas exploration ...

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Oil-drilling controversy here stirs old bitterness in Alaska

A month ago, the Alaska House of Representatives took time out from struggling to forge a state budget in the face of plummeting oil prices to talk about Washington state. For nearly an hour, they debated the wording of a five-page resolution that blasted Evergreen State politicians for their opposition to Shell’s offshore oil exploration in the Arctic and mockingly ...

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Pennsylvania looking outside for audit on shale cash

The Pennsylvania Department of Conservation and Natural Resources is preparing to hire an outside firm to audit the royalty payments that the agency receives from natural gas production on state lands to ensure that drilling companies’ price calculations are accurate. Acting DCNR Secretary Cindy Dunn said Monday during a budget hearing in Harrisburg by the House Appropriations Committee that the ...

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Dalrymple optimistic about upcoming year

Despite falling oil prices, North Dakota lawmakers remain optimistic about the state’s infrastructure, its continued growth and the positive impacts of a strong economy. During yesterday’s State of the State address, Gov. Jack Dalrymple acknowledged the growth the state has experienced over the past 10 years due to the increase in oil drilling activity. “Our economic growth is creating many ...

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North Dakota Fights over How to Spend Huge Oil Revenues

ELECTION 2014: This article is part of our coverage of ballot measures to watch. North Dakota’s oil taxes have let the fiscally conservative state do things that seemed unthinkable just a few years ago: It has cut income and property taxes, built new roads and set aside more money for schools — all while building up a sizable savings account. ...

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