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Author Topic: Interior won't lower offshore drilling royalty rates  (Read 1024 times)

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Offline Free Vulcan

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Interior won't lower offshore drilling royalty rates
« on: April 17, 2018, 02:48:13 pm »
The Interior Department will not be lowering the royalty rates from profits made from offshore drilling, despite a recommendation from an agency committee comprised largely of energy industry representatives.

Interior Secretary Ryan Zinke announced Tuesday that he will not lower offshore oil & gas royalty rates from drilling on federally controlled waters, citing "record" energy growth.

“The pilot light of American energy has been re-lit by President Trump, and the President’s energy dominance strategy is paying off,” Zinke said in a statement.

Read more at: http://thehill.com/policy/energy-environment/383564-interior-wont-drop-offshore-royalty-rates
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Offline WarmPotato

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Re: Interior won't lower offshore drilling royalty rates
« Reply #1 on: April 18, 2018, 03:35:56 am »
Damn bureaucracies...
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Offline IsailedawayfromFR

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Re: Interior won't lower offshore drilling royalty rates
« Reply #2 on: April 18, 2018, 05:01:43 pm »
Article is wrong as royalties are not paid on profits, but production.

It also is unclear whether the royalty change was for existing leases as well as new leases.
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