Deepwater royalty relief comes under fire in Congress

Federal royalty relief in the deepwater Gulf of Mexico came under fire as critics charged that it will cost the US government billions of dollars at a time when crude oil and natural gas prices are near record highs.The attacks followed a Feb. 14 New York Times article saying royalty relief could cost the US more than $7 billion in royalties from about $65 billion in production from federal offshore leases over the next 5 years under the Deep Water Royalty Relief Act of 1995.The newspaper said it based the estimate on US Minerals Management Service projections that royalty-free oil production could reach 112 million bbl at an assumed average price of $50/bbl, and royalty-free gas could re...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected