Trump expects to raise new revenue from opening more federal land to drilling
But federal revenues from oil and gas leases have plummeted since 2014
President Donald Trump intends to fix crumbling roads and bridges, in part, with a plan that hearkens back to Sarah Palin’s slogan: “Drill, baby, drill.”
“We must take advantage of the estimated $50 trillion in untapped shale, oil, and natural gas reserves, especially those on federal lands that the American people own,” according to a statement on the White House website. “We will use the revenues from energy production to rebuild our roads, schools, bridges and public infrastructure.”
But the math from this plan doesn’t add up. The federal government made only $4.3 billion from oil and gas leases in fiscal year 2016, a fraction of what a massive infrastructure package might cost.