House Dems propose huge changes to drilling program

[babylonsister]

House Dems propose huge changes to drilling program
By Jim Snyder
Posted: 05/22/09 12:45 PM


Under a House Democrat-crafted bill described as a “sweeping” reform of federal drilling rules, oil and natural-gas companies would pay more to drill on federal lands and have less time to access the resources.

The measure, crafted by House Natural Resources Democratic staff, raises the royalty fees oil and gas companies pay to drill on federal lands for the first time since the 1980s. It also shortens the duration of federal leases to access those federal resources from 10 years to five.

The proposed changes are likely to draw vocal complaints from oil and gas companies that have already been lobbying against proposals by the Obama administration to rescind $30 billion in tax breaks over 10 years.

“Sweeping reform is not an overstatement,” one energy lobbyist who had reviewed the bill said. “This will get a lot of attention, real quick.”

more...

http://thehill.com/leading-the-news/house-dems-propose-sweeping-changes-to-drilling-program-2009-05-22.html

[pleah]

1. K&R

[HillbillyBob]

2. A bunch of them already owe millions or billions

in royalties not collected by the ( * ) maladministration and before so raise them higher they still won't pay, they get tax kickbacks and don't pay taxes anyway. wtf is the difference will it make if the dems raise the rates if they are not collecting the fees?

[babylonsister]

3. Well they just might this time. I surely don't know, but am willing

to give them the benefit of the doubt.