Legislative Fiscal Report : Presented to the ... Legislature 2009 Vol 2

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This royalty rate is used for all estimated years. Of the total calculated royalty, Montana receives a portion. Although the state portion is 50 percent, actual receipts from calendar year 2005 indicate an actual rate of 49.3 percent. This rate is used for all estimated years.
Coal [- $12 - $10 $8 e $6 ^ Q.
$4 $2 ■ $0 —♦—Total MT Production -•—Federal Production —a— Price 35 ■ M 30 • §25.
c 20 - 1 15- S 10 ■ 5 - A ♦ ■ * — - T^ 1 1 ^ F2006 F2007 F2008 F2009 Fiscal Year Oil - Calendar year produc
...tion is estimated by carrying the 2005 actual amounts into all of the estimated years since there was ahnost no growth in production between 2004 and 2005. Yearly prices are determined by fu-st averaging quarterly future prices of West Texas Intermediate oil as forecast by Global Insight, based on the federal fiscal year, for the current and previous year. The current year price is then multiplied by the ratio of the previous year's price to the previous year's estimated (or actual) price.

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