Paying royalty fees to the Government is counter productive if you ask me when that very Government of ours is asking for more oil drilling. It costs a lot of money to bring in a well and with the very low prices for oil not many companies wanted to expend a lot dollars exploring for new sources of oil/gas. If you add to the low oil prices the royalties paid for drilling on federal lands, you have a lack of drilling IMHO.
I think royalties to the federal government should be done away with as long as there is an agreement that the oil/gas well producer will leave the surrounding area like they found it. They are doing a wonderful job here in Oklahoma of cleaning up old oil/gas sites that were eyesores and not safe. The Government already makes huge amounts of money off the gasoline tax across the Country so why should they get royalty money as well so they can continue to spend on their pork projects.
If we want more domestic oil drilling, you have to do something and this is a start IMHO.
Yeah, but PKM, this is stupid politics. Just wait until the Dems get ahold of this one, for whatever reasons may apply.
"Paying royalty fees to the Government is counter productive if you ask me when that very Government of ours is asking for more oil drilling"
So the government should just give its oil away to whomever wants it?