OGJ Newsletter

02/27/2012
GENERAL INTEREST — Quick Takes API, IPAA criticize plan to raise royalty rates US Sec. of the Interior Ken Salazar's plans to raise onshore oil and gas royalty rates by nearly 50% are a bad idea, the American Petroleum Institute and Independent Petroleum Association of America separately said on Feb. 16. Their statements came after Energy & Environment Daily reported that Salazar told the US House Interior Appropriations Subcommittee on Feb. 15 that raising royalties for oil and gas produced from federal onshore acreage from 12.5% to 18.5% "is an appropriate fair market value rate." The increase would fly in the face of the "all-in, all-of-the-above" energy strat...
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