At a presentation in New Mexico, one participant noted that royalty payments from leasing land for production of oil and gas was a significant source of state revenue. Information on changing royalty revenues would inform state and federal policymaking. US and state data on royalty rates exists and we could estimat the changes in royalty revenues as oil and gas production changes in the model over time. Royalties are important part of a handful of states' budgets and insights regarding changes in royalty revenue would support use of the tool.
At a presentation in New Mexico, one participant noted that royalty payments from leasing land for production of oil and gas was a significant source of state revenue. Information on changing royalty revenues would inform state and federal policymaking. US and state data on royalty rates exists and we could estimat the changes in royalty revenues as oil and gas production changes in the model over time. Royalties are important part of a handful of states' budgets and insights regarding changes in royalty revenue would support use of the tool.