Deepwater royalty relief comes under fire in Congress

02/27/2006
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...
read-story

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