Rahall Statement on Federal Oil and Gas Royalty Revenues of FY 2008

CONTACT: Allyson Groff or Blake Androff, 202-226-9019

Washington, D.C. - House Natural Resources Committee Chairman Nick J. Rahall (D-WV) released the following statement today after the Department of the Interior released new figures on payments to states and Native American communities for FY 2008 energy production on federal lands and federal offshore waters:

"The figures released today illustrate the importance of oil and gas royalties to the revenue side of the federal budget, but they are not nearly the full amount due to the American people. In these tough economic times, as fiscal needs continue to grow and our budget becomes increasingly constrained, the need to stop the hemorrhaging of money owed for drilling on our public lands and waters is more apparent than ever. I look forward to working with the new Administration to reform the flawed federal oil and gas royalty system and to help ensure that the Federal Treasury and the American people gain fair and full compensation from the wealthy oil industry."

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