Oil and Gas Royalties: Royalty Relief Will Likely

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Oil and Gas Royalties: Royalty Relief Will Likely Cost the Government Billions, but the Final Costs Have Yet to Be Determined

Oil & gas production from fed. lands & waters is v

Our Price: $10.00

By Mark E. Gaffigan (au)
Year: 2007
Pages: 13
Binding Paperback

Product Code: 1422313689

Description

Oil & gas production from fed. lands & waters is vital to meeting the nat. energy needs. As such, oil & gas co. lease fed. lands & waters & pay royalties to the fed. gov’t. based on a percentage of the oil & gas that they produce. In order to promote oil & gas production, the fed. gov’t. has provided “royalty relief,” waiving or reducing the royalties that co. must pay. However, as production from these leases grows & oil & gas costs have risen since a major 1995 royalty relief act, questions have emerged about the financial impacts of royalty relief. This statement addresses: (1) the likely fiscal impacts of royalty relief on certain leases; & (2) other authority for granting royalty relief that could further impact future royalty revenue. Charts & tables.

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