Energy policy moves forward without omnibus legislation

02/09/2004
As Congress decides whether to try to salvage the omnibus bill it has twice failed to pass, the oil and gas industry should recognize that with energy policy, good things can happen in small packages.Two such good things have occurred recently—one through regulation and the other through legislation.On Jan. 26, the US Minerals Management Service implemented royalty relief for production of natural gas from wells deeper than 15,000 ft in shallow waters of the Gulf of Mexico (OGJ Online, Jan. 26, 2004).The action suspends royalty on the first 15 bcf of gas produced from 15,000-18,000 ft and the first 25 bcf of gas produced from depths exceeding 18,000 ft. It also suspends royalty for ...
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