Amid the pandemic, the Trump administration is giving energy companies temporary breaks on royalties and rent they pay to extract oil and gas from leases on public lands.
FILE - This Feb. 21, 2012, file photo, shows equipment in the oil fields of the Uintah Basin, southeast of Vernal, Utah. The Trump administration has started giving energy companies temporary breaks on royalties they must pay for oil and gas extracted from federal lands because of the coronavirus pandemic, government data shows. Royalty rate cuts so far have been authorized for at least 76 energy leases in Utah.
The move drew quick criticism as a handout to industry that will mean less money for state governments. A Democratic lawmaker called for an investigation into whether the breaks were justified. Half the money that comes in through royalty payments is typically disbursed to the states where the oil or gas was extracted. The payments totaled $2.9 billion nationwide in 2019, including $94 million in Utah.In a related action in recent days, bureau officials in 85 cases suspended rent payments that companies pay on their oil and gas leases on federal lands, according to government data. The suspensions to date have all been in Wyoming and were linked by agency officials to the pandemic.
“These laws and regulations have existed for decades and across multiple administrations,” Tollefson said. “No special circumstances have been granted.” The government has broad authority to grant royalty reductions for both onshore and offshore oil and gas activity provided companies meet its criteria, said American Petroleum Institute vice president Lem Smith.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AP source: Ex-Trump lawyer Cohen to be released from prisonPresident Trump’s longtime personal lawyer and fixer Michael Cohen will be released from federal prison Thursday and is expected to serve the rest of his sentence at home, a person familiar with the matter tells the AP.
Read more »
AP source: Ex-Trump lawyer Cohen to be released from prisonPresident Donald Trump’s longtime personal lawyer and fixer Michael Cohen will be released from federal prison Thursday and is expected to serve the remainder of his sentence at home, a person familiar with the matter told The Associated Press. Cohen has been serving a federal prison sentence at FCI
Read more »
Trump Allies Recruiting 'Pro-Trump' Doctors To Prescribe Rapid ReopeningThe Trump campaign communications director confirmed that an effort to recruit doctors to publicly support the president is underway.
Read more »
Trump admin taps startup to build nation's 1st stockpile of key drug ingredientsThe $354 million project is designed to shore up the drug supply chain and reduce the country&39;s dependence on foreign manufacturers.
Read more »
Trump admin taps startup to build first stockpile of key drug ingredientsTrump administration signs a $354 million contract that would create the nation's first strategic stockpile of key ingredients needed to make medicines.
Read more »
Trump admin taps startup to build first stockpile of key drug ingredientsTrump administration signs a $354 million contract that would create the nation's first strategic stockpile of key ingredients needed to make medicines.
Read more »