Joanna + 68 JT March 1, 2018 An Interior Department advisory committee voted unanimously to cut the royalty rate that oil and gas companies pay for offshore drilling in federal waters. The Interior Department’s Royalty Policy Committee held a meeting in Houston to evaluate a proposal to lower the royalty rate companies pay on offshore drilling from 18.75 percent to 12.5 percent to promote more offshore production.The lower rate would apply to the value of oil and gas from drilling-rights leases sold starting later this year. Quote Share this post Link to post Share on other sites
Meanwhile + 49 PT March 1, 2018 I believe this amount is the lowest rate the government can charge for offshore leases. Quote Share this post Link to post Share on other sites
JohnAtronis + 78 JA March 1, 2018 Decision is not passed yet by the government, it still has to be approved by Zinke's office . Quote Share this post Link to post Share on other sites
李伟王芳 + 77 ZL March 1, 2018 I am sure Zinke will make it official. This proposal would amount to a giveaway to some of the most profitable companies in the world and rob taxpayers of potentially billions of dollars of revenues over the life of the leases. Quote Share this post Link to post Share on other sites
Stephen + 67 SM March 1, 2018 Selling off public land and resources as quickly as possible at fire-sale prices is not good stewardship 1 Quote Share this post Link to post Share on other sites
李伟王芳 + 77 ZL March 1, 2018 oil, gas and coal industries win and the American taxpayers lose Quote Share this post Link to post Share on other sites
李伟王芳 + 77 ZL March 1, 2018 10 minutes ago, Joanna said: An Interior Department advisory committee voted unanimously to cut the royalty rate that oil and gas companies pay for offshore drilling in federal waters. The Interior Department’s Royalty Policy Committee held a meeting in Houston to evaluate a proposal to lower the royalty rate companies pay on offshore drilling from 18.75 percent to 12.5 percent to promote more offshore production.The lower rate would apply to the value of oil and gas from drilling-rights leases sold starting later this year. Modern socialism really sucks. Norway uses it's oil for it's people and has a one trillion $ savings account. On other side, we give our resources to handful of multi billionaires, and have trillions of debt Quote Share this post Link to post Share on other sites
JohnAtronis + 78 JA March 1, 2018 1 minute ago, 李伟王芳 said: Modern socialism really sucks. Norway uses it's oil for it's people and has a one trillion $ savings account. On other side, we give our resources to handful of multi billionaires, and have trillions of debt Well, Norway has 70 times less people but I agree that every country should have its own permanent fund like Norway Quote Share this post Link to post Share on other sites
Stephen + 67 SM March 1, 2018 I'm pretty sure oil companies are doing just fine without giving them a clearance price Quote Share this post Link to post Share on other sites
李伟王芳 + 77 ZL March 1, 2018 1 minute ago, Stephen said: I'm pretty sure oil companies are doing just fine without giving them a clearance price They can pay 18%. Any revenue should be put to pay down national debt Quote Share this post Link to post Share on other sites
Kiran + 1 KH March 2, 2018 Why cry? This is a step to reduce import cost, by profiting local business houses n by the way customers are not charged extra! 1 Quote Share this post Link to post Share on other sites
Structural Master + 18 March 4, 2018 (edited) Protect American Engineers and Designers in the Energy Sector in Houston.. Engineering Co's are offshoring 70-90 percent of our work to India and China..! No More H-1Bs in Energy Sector unless they have American Degrees..!!The Oil Company's Got Big Tax Breaks and Royalty fees Cut by 30 percent.. They should able to hire Americans.. atleast for Domestic Projects.. Its bad enough when American engineering co's do it but its Disgraceful when foreign engineering co's siphon up domestic project work and take it to China or India..!!There are Dozens of Multi Billion Dollar Projects Coming up.. The cost of Engineering is peanuts compared to profits..Houston is known as the Energy Capitol of the World but maybe not for long.. My 2 sons already changed theirengineering majors and my Brother in law graduates in May w Petroleum Engineering degree.. (Updated 10/21/19.. My Brother in law has recently completed his Masters Degree In Petroleum Engineering at U of H.).. If The our Domestic Energy Sector is Vital.. Are we (Trump) gonna hand it over to China and India because they workfor slave wages..?https://www.facebook.com/photo.php?fbid=310239042407910&set=a.106427416122408.8940.100002654507753&type=3&theater Edited October 22, 2019 by Structural Master 1 Quote Share this post Link to post Share on other sites
Structural Master + 18 March 26, 2018 (edited) Whos for offshoring as much work and we can to India and China in the energy engineering sector..? Me in the Belly of the Beast.. BP Thunder Horse Moon Pool GOM.. Edited October 22, 2019 by Structural Master Quote Share this post Link to post Share on other sites