+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

The US Government Is Sitting On $128 Trillion In Minerals

Feb 6, 2013, 16:50 IST

"Below the ground, the federal government owns the rights to mineral and energy leases, from which they receive royalties, rents, and bonus payment," writes the Institute for Energy Research, an industry group.

Advertisement

According to their estimates, those assets are worth $128 trillion. That's around eight times the national debt.

Here's their map. Green=Bureau of Land Management, Orange=Indian reservations, Blue=other:

IER

From IER:

Advertisement

These resources could be leased under the right government policies to earn the state and national government royalties, rents, and bonus payments that CBO conservatively estimates could total almost $150 billion over 10 years for the oil and gas leases alone. That figure excludes tax payments that would be provided to state and national governments from the direct and indirect effects of unleashing tens of trillions of dollars of economic activity here in the United States and the extended benefits of more supplies on reducing the costs of energy for consumers and businesses.

"It is well known that abundant, reliable and affordable energy supplies act as fertilizer for economic growth that in turn generates new revenue sources," they write. "It is time to better utilize government assets owned by the U.S. taxpayer, and in turn, unleash the U.S. economy’s potential."

SEE MORE: 36 Maps That Explain The World >

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article