Conclusion

President Trump’s proposed SWF has opened the doors to the idea of reforming the fiscal relationship between public lands and the states and communities who rely on them for revenue, jobs, recreation, clean air and water, resilience against natural disasters, and much more. The secretaries of the treasury and interior have stated clearly that public lands would be monetized—including selling out and selling off to the highest bidder—to raise substantial new revenue. Handing over public lands to an SWF may also change who benefits. To grow an SWF, royalties that currently are shared with state and local governments could be redirected into the SWF. A better approach would keep public lands in public hands and work on solutions that deliver the predictable and fair compensation state and local governments deserve. An energy and natural resources SWF could achieve these goals in a way that works for industry, state and local governments, and all Americans who use and love public lands.