Land & Water Conservation FundCreated in 1964, the Land and Water Conservation Fund (LWCF) is the federal piggy bank our government uses to create national parks, wildlife refuges, national trails, state parks, and even the local park where your kids play. The LWCF is primarily funded through revenues from oil and gas company leases, but it has been underfunded at historically low levels during the last eight years. Obama has asked for a massive increase in funding for the LWCF in his budget proposal for the 2010 fiscal year ($420 million total), and has pledged to return the LWCF to full funding ($900 million) by 2014.