DOI to review heavy oil, stripper well royalty programs

The US Department of the Interior this year will take a closer look at its heavy oil and stripper well royalty relief programs to see if they are stimulating domestic production in a cost-effective manner, department officials said May 16."We will be taking a careful look at these programs and others to see what works and what doesn't," a DOI official told OGJ.California state officials recently criticized the two programs, saying that the department should not be extending royalty reductions when oil prices are high enough to encourage drilling (OGJ Online, Apr. 23, 2003). Producers meanwhile argue that regulators should consider relaxing most royalty rates on federal lands as a matt...

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