California asks DOI to end royalty cuts for stripper, heavy oil wells

04/28/2003
A top California state official last week called on the Department of the Interior to terminate its royalty rate-reduction program for stripper and heavy oil properties.In a letter sent to Sec. of Interior Gale Norton, California Controller Steve Westly sharply criticized the program, saying oil prices are now high enough to kill a royalty giveaway and that the program never really boosted domestic production even when oil prices were low."Some of California's largest producing properties, which are operated by major oil companies, are eligible for royalty reductions," Westly wrote Apr. 22."From California's perspective, the only demonstrable result of these programs has been the ...
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