US Interior Dept. Cuts $110 Million In Mineral Payments To 35 States As Part Of Spending Cuts

  • Thursday, March 28, 2013
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  • Keywords:Mineral Payment Cutting
[Fellow]The U.S. Department of Interior is cutting federal
[Ferro-Alloys.com]The U.S. Department of Interior is cutting federal mineral payments to 35 states by about $110 million this fiscal year as part of the automatic federal spending cuts that started this month.
 
Wyoming Gov. Matt Mead announced this week that his state faces the biggest cut — at least $53 million over the next five months. Wyoming is the nation’s leading coal-producing state and last year received nearly $1 billion in federal mineral payments.
The federal government paid a total of $2.1 billion last year to the states, representing their share of revenue from energy and mineral production that occurred on federal land within the states, as well as offshore.
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