ABSTRACT: 
The State Lands Commission was established in 1938.  A staff of more than 200 specialists in mineral resources, land management, boundary determination, petroleum engineering and the natural sciences currently assists the Commission.

Oil and gas production is the largest source of revenue from California’s sovereign lands. Its value to the State goes well beyond the generation of non-tax revenue as it provides employment and benefits to local economies and reduces the need to purchase foreign oil and the risk of a tanker spill from transporting foreign oil.  The tidelands portion of the Wilmington Oil Field, primarily the Long Beach Unit (LBU), has produced $4.5 billion in State revenues since 1956. Oil and gas production from offshore leases and from natural gas leases beneath navigable rivers has generated more than $1.6 billion in royalty revenue for the State since 1930.  California leads the nation in the use of geothermal energy to generate electricity. The world's largest geothermal field, The Geysers, about 75 miles north of San Francisco and geothermal resources on State lands in the Imperial Valley have generated more than $124 million since 1972.  Hard rock mineral resources on State lands also generate royalty and rent. About $10 million has been collected since 1930 from mineral extraction on both sovereign lands and school lands. At present, more than $400,000 is collected annually. The State’s royalty interests and its shares in tidelands net profit interests are estimated to provide the State in FY 2007/08 over $400 million. 

This presentation will focus on the various sources of revenue received, how this money is used and its effect on the State’s budget, current and past.  And it will cover the impact that this more than $8.0 billion has had on California’s economy and infrastructure.