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EMD-82-83 1 (1982-06-08)

handle is hein.gao/gaobabdjl0001 and id is 1 raw text is: 




REPORT BY THE


Comptroller General


OF THE UNITED STATES


RELEASED


          RESTpI T 'T7.  -   lk n  r 'id oov-; e  the  Cneral
          A cco:                   2 t: s o -.:',:, app roval
          Oy the a,,.Q u .         koations.



Outlook For Achieving Fiscal

Year 1983 Offshore Revenue

Estimate--Possible But Not Likely



Although revenues from offshore leasing
arid development are anticipated to increase
significantly under the Administration's ac-
celerated leasing program, GAO questions
whether the increase will be of the magni-
tude forecasted.

Substantial increases in revenues from
Gulf of Mexico leasing and the release of
escrowed funds from previous sales, which
are uncertain, are keys to achievement of
the estimate. Other factors which will im-
pact on achievement of the estimate are (1)
Interior's ability to estimate the hydrocar-
bon resources in offshore leasing areas and
to predict industry interest and willingness
to increase its offshore activity, (2) future
economic conditions, and (3) public accept-
ance and successful implementation of
Interior's new program.


GAO recommends that the Interior Depart-
ment improve its revenue forecasting meth-
odology and that the Office of Management
and Budget provide a full discussion and
accounting to Congress on future estimates.


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GAO/EMD-82-83
    JUNE 8, 1982


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