Minerals Revenue Management: Money Money Money

[The Straight Story]

(Money Money Money was the caption for the Button/Link on the kids page):

Minerals Revenue Management:
Collecting money! Dollar Bills

The MMS's Royalty Management Program is responsible for management of all revenues associated with both federal offshore and onshore mineral leases. The effort is one of the federal government’s greatest sources of non-tax revenue.

Some federal lands are leased to individuals and companies for minerals development. Lease holders competitively bid, initially pay a bonus and subsequently, rent for the right to develop these onshore and offshore lands.

If minerals are found, extracted and sold, the federal government is entitled to a certain percentage of, or royalty on, the production.

In the past 20 years, the MMS has collected more than $120 billion. Last year, we collected $9.8 billion

http://www.mms.gov/mmskids/money/money.htm

From a previous link I posted somewhere, the US gets 20% of revenues and some other countries collect 70% for offshore drilling.