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Mon Feb 11, 2013, 02:54 AM

Where is the American People's Cut of Oil and Gas?

With fracking about to turn America into the #1 oil and gas producer in the world, where is the cut for the American people? In virtually every country in the world, those countries demand a cut of the revenues that are pulled from beneath their ground.

What about America? Sure, we charge a pittance for resources that are on public lands, but what about other lands?

I think a reasonable 25% share is a good place to start!

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Response to JCMach1 (Original post)

Mon Feb 11, 2013, 04:59 AM

1. You've got to remember that

There must be an equitable arrangement for the actual party that ultimately does own the asset . No point having everything pillaged and you end up with poisoned and polluted groundwater and a foul atmosphere. I thought this only went on in third world countries .....Oops that's right ,that's freedom at work....seems some people are more free than others.

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Response to JCMach1 (Original post)

Mon Feb 11, 2013, 05:15 AM

2. In The Pockets Of Business And Corporations And Their Political Cronies

eom

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Response to JCMach1 (Original post)

Mon Feb 11, 2013, 05:21 AM

3. No we go the other way

Pay them big subsidies for the privilege of having our land and water destroyed

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Response to JCMach1 (Original post)

Mon Feb 11, 2013, 07:04 AM

4. Exactly!! The natural resources belong to the nation. If private companies are needed to extract and

distribute them, they should make a profit--a reasonable one after they have paid the American people for the privelege!!

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Response to JCMach1 (Original post)

Mon Feb 11, 2013, 07:11 AM

5. info

Is there a site with info on this? I saw a piece on "The Young Turks" how the US gets almost nothing for the oil/gas etc extracted on US land while in foreign countries it's something like 80%.

I did a search and didn't come up with anything that really talked about this - was looking for a good summary etc to post on FB page.

And I think 25% may be a start but I want more like 75%+ !

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Response to JCMach1 (Original post)

Mon Feb 11, 2013, 08:09 AM

6. The Public Isn't Entitled To Privately-Owned Mineral Rights....


...any more than it is to privately owned houses, farm crops, or water wells. Fee ownership is fee ownership, be it surface or sub-surface.

And 25% is pretty much the top royalty rate which private mineral owners are getting under oil and gas leases these days---it's not "a good place to start."

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Response to Paladin (Reply #6)

Mon Feb 11, 2013, 08:52 AM

9. You don't own your home, the state does, you only rent it from them

I pay the state just under $1,000 a year to rent our place from them. If I do not pay it they have an auction and that determines the next renter - who thinks he owns the place, but he's wrong.

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Response to 1-Old-Man (Reply #9)

Mon Feb 11, 2013, 09:05 AM

10. If You Rent Your Place, You're Not Entitled To Oil And Gas Revenues From It. (nt)


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Response to Paladin (Reply #6)

Mon Feb 11, 2013, 09:06 AM

11. Privately owned mineral rights.....

How far does that ownership extend back and were the original owners willing participants?

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Response to Theyletmeeatcake2 (Reply #11)

Mon Feb 11, 2013, 09:34 AM

13. Most Real Property In The U.S.---Both Surface And Sub-Surface---Is Privately Owned.


The federal government owns millions and millions of mineral rights acres, particularly in the western part of the country. The states own some, as well. But private individuals own most of the realty in this country, mineral rights included (making the U.S. one of the very few countries to allow its citizens to own minerals). Unless prior mineral owners have reserved a full or partial interest, energy companies deal only with the current owners---prior "original owners" have no say in the matter. That's not some evil oil industry plot, that's centuries of common law in place. The land owners remain the legal owners of the mineral rights---energy companies lease those rights, and control them for as long as their leases are effective.

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Response to Paladin (Reply #13)

Tue Feb 12, 2013, 02:23 AM

17. Original owners

Go back further than the original settlers.....there was no terra nulius...I may be wrong as I'm not familiar with the USA treatment of the indigenous people's.

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Response to JCMach1 (Original post)

Mon Feb 11, 2013, 08:38 AM

7. For every BTU of American energy sold

outside our nations borders there should be a replacement, BTU for BTU, of a clean energy source.

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Response to JCMach1 (Original post)

Mon Feb 11, 2013, 08:43 AM

8. If West Virginia had received $0.10 for every ton of coal that has been exported from its borders

I have read it would be the richest state in the country.

As a land owner here in WV I was paid $1 per ton for the coal that was removed when this place was stripped. I still own all the gas rights.

I think your 25% is way too high, but then a lot depends on what sort of recoupment of costs schemes are available to the particular industry relative to the type of extraction they will practice in removing the materials. And yes, this should be applied to gas and oil removed from private property too, because in the end the resource belongs to us all, not just the owner of the acre where the well is situated.

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Response to 1-Old-Man (Reply #8)

Mon Feb 11, 2013, 10:10 AM

14. 25% is a very low percentage in most deals that companies from sovereign nations

Call it whatever you want... perhaps just call it a resource tax. Right now the American People are treated in the same manner as Amazonian natives when it comes to resource ownership.

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Response to JCMach1 (Reply #14)

Mon Feb 11, 2013, 11:07 AM

15. You've Got Private And National Mineral Ownership Confused.


As I say up-thread, the U.S. is one of a very few nations which allow the private ownership of mineral resources. Most nations lay claim to all the oil, gas and other minerals within their boundaries, and their citizens receive only that income from those resources as their government sees fit to allocate (hint: it usually isn't much, if any at all). In the U.S., minerals from federal lands are by-and-large administered by the Bureau of Land Management; state land minerals are overseen by state agencies, and privately-owned minerals and their owners are entitled to income from those minerals, when they are developed. If you doubt me on this, I suggest you contact a private landowner in North Dakota, eastern Ohio, or south Texas---places where significant, high-dollar oil and gas shale plays are currently ongoing---and demand that they turn some of their royalty payments over to you and the rest of the public, because you feel you're entitled to it. Ask them if they want to swap places with Amazonian tribesmen in terms of the energy revenues they're receiving, these days. Lotsa luck with that.....

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Response to Paladin (Reply #15)

Tue Feb 12, 2013, 01:16 AM

16. but we can tax

And do the same thing

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Response to JCMach1 (Original post)

Mon Feb 11, 2013, 09:11 AM

12. Nationalize the whole fuckin' thing.

Then it will be AMERICAN gas, and AMERICAN oil.

Until then it belongs to whoever digs it up.

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