Why is Oil and Gas Leasing Important to Utah’s Economy?
If development occurs on Public Lands in Utah, the State receives additional royalties and local communities benefit from jobs and increased spending. Much of this funding is shared with local counties for transportation, schools and other social programs. According to a report by the Utah Energy Office, the drilling of a typical well in the Uintah Basin adds approximately 15 jobs and $360,000 in additional personal income. These jobs would be in the mineral and construction sectors, as well as indirect services such as retail. If these jobs were sustained by future development, it could have significant long-term economic impacts. Revenues from leasing are shared equally between the federal government and the State of Utah. Since the passage for the Mineral Leasing Act in 1920, the State of Utah has received $962,468,000 from mineral revenues on federally managed public lands. In 2005, Utah produced 15.7 million barrels of crude oil and 303.6 billion cubic feet of natural gas. However
