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US oil drillers to get another boost from decreased royalty rates

Addy in Oil (General)

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Addy    + 14

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"A U.S. Department of the Interior committee voted on Wednesday to recommend to Secretary Ryan Zinke that the agency lower royalty rates for federal offshore oil and gas drilling to 12.5 percent from 18.75 percent through 2024, to spur more production." I wonder how much more production this is going to spur.

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