From the category archives:

Economy

February 1, 2010

Taxing The Wind – Governor Pushes First Statewide Production Levy

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Reprinted from ClimateWire with permission from Environment & Energy Publishing, LLC. www.eenews.net. 202/628-6500
By Debra Kahn, ClimateWire
Wyoming Gov. Dave Freudenthal (D) is determined to levy a production tax on wind power to level the playing field against mineral resources.
Speaking recently at the Commonwealth Club in San Francisco, Freudenthal explained why he felt that wind power should [...]

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September 16, 2009

Gov Seeks Fed Royalty Program Accounting

Gov. Dave Freudenthal has asked the federal Minerals Management Service to let the state conduct an audit of three years of natural gas royalties collected under the controversial federal Royalty-in-Kind program.

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September 16, 2009

Feds Gone Wild, Part III: RIP, RIK? New Bill Would Kill Industry’s Darling

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For more than a decade, West Virginia Democratic U.S. Rep. Nick Rahall watched powerlessly as the Bush administration and a Republican Congressional majority made Royalty in Kind the main method of collecting oil and gas royalties on federal lands.

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September 2, 2009

Gov Mulls RIK Audit

Wyoming Gov. Dave Freudenthal  is considering an audit of the state’s share of a controversial  federal gas Royalty in Kind program that paid the state $290-million in  fiscal year 2007-08, WyoFile has learned.
According to State Lands and Investments director Lynne Boomgaarden, the governor asked her and Wyoming Department of Audit director Mike Geesey to brief [...]

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September 1, 2009

Feds Gone Wild

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On a cold, blustery January 28, 2009, the newly appointed Secretary of the Interior of the United States, Ken Salazar, arrived at the headquarters of Minerals Management Service at the Federal Center in the Denver suburb of Lakewood, Colorado.

With him were two men: Interior’s Inspector General Earl Devaney, a former Secret Service agent and police officer, and Salazar’s chief of staff Tom Strickland, the former U.S. attorney for Colorado.

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July 29, 2009

Despite Exceeding Benchmark Goals State Fired Jackson Equities Manager

Despite Exceeding Benchmark Goals State Fired Jackson Equities Manager
By Ben Gose
Wyoming’s extreme focus on income—as opposed to “total return,” the measure that most money managers focus on—can lead to some tortured decisions that may be hampering the long-term growth of the permanent funds.
The statute that created the Wyoming Permanent Minerals Trust Fund required any income [...]

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July 29, 2009

Should Wyoming Rethink Investments? Despite Recession, Time May Be Right

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Are Wyoming’s leaders being too conservative with the billions of dollars in our permanent funds?

It sounds like a crazy question to be asking today, as the country muddles through the worst financial crisis since the Great Depression. But at a time when stocks and other assets remain cheap, at least one investment expert in the state believes Wyoming has the opportunity to “buy low” and structure its portfolio in a way that more closely mirrors what nearly all other managers of endowment-type funds are doing.

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July 15, 2009

Wyoming News Reader

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NEW: For the best, hand-picked, eclectic selection of current news about Wyoming from newspapers, magazines and websites…

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June 22, 2009

GUEST COLUMN: Bring Severance Tax Rates Into State Budget Discussions

Bring Severance Tax Rates Into State Budget Discussions
Hikes should be part of an overall review of revenues and tax investments
By Dan Neal and Sarah Gorin
No more Centennial Singers?
No more Geology Museum, in a state famed for its geology and, more to the point, its energy resources?
As the boom slides toward the bust, it’s appropriate and [...]

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June 15, 2009

Royalty in Kind vs. Royalty in Value? – The $290,024,880 Question

State Received $290,024,880 in 2008 from Troubled Royalty in Kind Program. Gov Dave Wants Review.

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June 15, 2009

“No Easy Answers” for Wyoming Economy

Sheridan— In an interview with WyoFile, Federal Reserve Bank of Kansas City President Thomas Hoenig recommend Wyoming wean itself from a commodity diet.
Hoenig was in Sheridan earlier this month to give a speech titled: An Economy at Risk.
Although Hoenig was addressing the national economic recession, the title to his speech could not be more fitting [...]

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February 8, 2009

A Quick History Of American Severance Taxes

Severance tax collections evolve in stages that depend upon price, the amount of mineral left in the ground, and the shape of a state’s finances.
In America, severance taxes began in Texas in 1905, then re-appeared Michigan and Louisiana in the 1920s. The more entrenched the oil or coal industry in a state, the greater the [...]

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December 19, 2008

Bankruptcy in Big Sky: Mile High Clubs in Trouble

Sheridan — In the past year, the west has watch with grim fascination as some of the Rocky Mountain’s poshest resorts have careened down the black-diamond slope.
The Yellowstone Club of Big Sky, Montana provides the most spectacular example.
Prospective members of the 13,400-acre ski and golf resort had to have a net worth of $3 million [...]

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September 22, 2008

Wyomings Farmers’ Markets. But Don’t Try To Sell Bread.

Sheridan: The leaves are turning. If you’re in Sheridan and it’s Thursday, it’s time to hie yourself to the Farmer’s Market.
But Sheridan, luckily, is not alone in offering fresh produce. Wyoming has 27 farmer’s markets. They’re still small potatoes, so to speak, but they’re starting to make a place for themselves among Wyoming’s food options.
Moreover, [...]

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August 11, 2008

Fuel Costs and the New Isolationism

Sheridan – Think of Wyoming as the giant ocean that it once was, with vast stretches of water between islands and atolls. Imagine traveling by boat. The more time and money it costs to reach each island, the more isolated it becomes – unless it has something singular to offer. The plain jane atolls affording [...]

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June 30, 2008

The Wyoming Baby Boom

Sheridan – Wyoming is getting younger and richer.
Rarely do these two demographics merge and create happy endings. Wyoming is trying to be the exception.
The money part is pretty straightforward. Wyoming’s real earnings in 2006 reached their highest level in 36 years. Our job growth in 2007 was the second highest in the nation.
The aging part [...]

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February 8, 2008

Does Wyoming Get Enough for Its Mineral Riches? Severance Tax Reform in the Cowboy State

In December 2007, Governor Sarah Palin gave Alaskans a nice present.
She signed legislation boosting Alaska’s severance tax. The state would now take 25 percent of taxable income derived from oil and gas production. Previously it had been 22.5 percent.
Severance or production taxes are one-time levies on oil, gas, and coal and other natural resources as [...]

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