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Rahall introduces major federal mineral policy reform bill

09/21/2009
By Nick Snow
US House Natural Resources Committee Chairman Nick J. Rahall (D-W.Va.) introduced a major federal minerals policy reform bill on Sept. 8. Its provisions include consolidation of the US Minerals Management Service and Bureau of Land Management.HR 3534 also would eliminate the royalty-in-kind program and federal reimbursement on interest accrued on overpayments a lessee erroneously makes, raise onshore rental rates for the first time since the 1980s, require new rules to ensure diligent development of leases, and assess a fee on existing leases that are not producing oil and gas, according to the committee majority's summary of the bill.The committee will hold hearings on Sept. 16-17 to dis...
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