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Oil and gas from federal lands and waters is critical to meeting the nation's energy needs, providing about 35 percent of all oil and 25 percent of all the natural gas produced in the United States in fiscal year 2005.
The Department of the Interior's Minerals Management Service (MMS) is charged with collecting and administering royalties paid by companies developing fossil and renewable energy resources on federal lands and within federal waters.
In March 2005, the Department of Energy (DOE) reported the discovery of a series of e-mail messages written in the late 1990s by U.S. Geological Survey (USGS) employees working under a contract with DOE on the Yucca Mountain Project.
Oil and gas production from federal lands and waters is vital to meeting the nation's energy needs. As such, oil and gas companies lease federal lands and waters and pay royalties to the federal government based on a percentage of the oil and gas that they produce.
The Energy Policy Act of 2005 (Act) contains provisions that address a variety of challenges that face the geothermal industry, including the high risk and uncertainty of developing geothermal power plants, lack of sufficient transmission capacity, and delays in federal leasing.
U.S. consumption of oil and natural gas increasingly outpaces domestic production, a gap that is expected to grow rapidly over the next 20 years. There has been increasing concern about U.S. reliance on foreign energy sources.