Along with these structural changes, the city has seen changes to its educational and government systems, including overhauls of the levee board and redistribution of oil royalties.
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Because that agency has the dual role of ensuring oil drilling safety in federal waters and collecting royalties from oil and gas companies.
Some states, such as Pennsylvania, recognize this to be an issue, and have created regulations to oversee fair distribution of oil and gas royalties.
About a quarter of Alaska's oil and gas royalties goes into an entity called the Permanent Fund, the assets of which are managed by investment professionals.
That could be a lot of money, as Louisiana has vast swaths of wetlands, owns the oyster beds that were devastated by leaking oil, and has lost oil and gas royalties due to the drilling moratorium.
Let's hope this program is modeled on the one in Alaska: About one-fourth of the state's oil and gas royalties goes into an entity called the Permanent Fund, the assets of which are managed by investment professionals.
What could have a significant impact on our energy security, however, would be to invest the hundreds of billions in potential federal revenues from oil and gas royalties to accelerate clean tech innovation and deployment, helping America develop the clean and affordable energy sources needed to truly diversify our energy mix and secure our freedom from oil.
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This trust would be funded by royalties from oil and gas operations on federal lands and in the Gulf of Mexico.
In one sense this is obvious: if mining and oil companies reveal the royalties they are paying poor countries then it is more difficult for the politicians in such countries to steal the money.
Just as we charge royalties on oil.
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This week, he announced that the part of the agency which permits oil and gas drilling and collects royalties will be separated from the part of the agency in charge of inspecting the safety of oil rigs and platforms and enforcing the law.
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That is where the royalties on your oil wells and the like go.
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When they pay royalties for the oil, US law allows them to treat part of these payments as income taxes, so their tax number will appear higher when the oil price is higher.
The backstory: since the 1970s the Land and Water Conservation Fund (which, only semi-ironically, gets its money from federal royalties from offshore oil and gas drilling) has given money to local governments for parks.
Brazilian President Dilma Rousseff has vetoed part of a law intended to share royalties from Brazil's oil fields across the country's 26 states.
While royalties will now rise in line with the oil price, the government rejected the experts' proposals for other tax changes.
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However, ONGC eventually assented to the tie-up after this dispute was resolved, with the two sides agreeing that royalties would be recovered from the sale of crude oil.
The market prices affect tax, royalties and profits, and have a huge bearing on oil companies' investment decisions.
If the play pans out, even more money could pour into Ohio via royalties, typically 12.5% per barrel of oil.
In Venezuela the authorities first raised the royalties on Total's output, and then demanded that the state-owned oil company be granted a majority stake in several fields operated by Total.
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