U.S. Interior Disburses $16.45 Billion in Fiscal Year 2024 Energy Revenue

The U.S. Interior Department on Nov. 8 announced the distribution of $16.45 billion in energy revenues during fiscal year 2024 from energy production on federal and Tribal onshore lands and federal offshore areas. Since 1983, the above payout is the fourth highest, offering funds to federal states to achieve their goals, including hydropower projects and irrigations, public lands protection, water body protection, and historic preservation initiatives.

During the fiscal year 2024, $1.18 billion was dispersed to Tribes and individual Indian mineral owners; $3.09 billion to the Reclamation Fund; $1.01 billion to the Land and Water Conservation Fund; $150 million to the Historic Preservation Fund; $413 million to federal agencies; and $6.32 billion to the U.S. Treasury.

The department’s Office of Natural Resources Revenue collected energy revenue from renewables, oil and gas, and mining activities on federal onshore and offshore lands, and disbursed $4.29 billion to 33 states.

New Mexico and Wyoming both received over 80 percent in revenues generated in fiscal year 2024 from energy production and mining activities. In addition to New Mexico (67.1 percent) and Wyoming (13.7 percent), other states receiving the funds based on the energy production and mining activities are Louisiana, 3.8 percent; North Dakota, 3.4 percent; Texas, 2.3 percent; Utah, 2.2 percent; Colorado, 2.1 percent; Mississippi, 1.2 percent; Alabama, 1.2 percent; California, 1.1 percent; and Alaska, 0.7 percent.

All the revenue received from energy and mineral production on tribal lands were disbursed to 33 federally recognized tribes and about 31,000 individual Indian mineral owners. Since 1982, the agency has distributed more than $387 billion in mineral leasing revenues. Most of these payments are scheduled monthly from royalties, bonuses and rents collected from companies operating on federal lands and waters.