Coal, oil and gas companies to pay less in royalties after Interior decision

[n2doc]

Source: Washington Post

The Interior Department informed coal, oil and gas companies this week they do not need to comply with a new federal accounting system that would have compelled them to pay millions of dollars in additional royalties.

The Office of Natural Resources Revenue’s new method of calculating royalties for minerals extracted on federal land — which was finalized last July and took effect Jan. 1 — was aimed at preventing firms from underpaying what they owe by selling coal to subsidiaries at an artificially low price. But energy firms, some of whom challenged the new rule in court, called the requirements confusing, complicated and onerous and pressed for a delay.

“This rule would have had immediate detrimental effects to American energy producers and the hard-working Montanans and workers across the country they support,” said Sen. Steve Daines (R-Mont.), who asked the administration last month to stay the rule.

Companies were set to file their first reports under the new rule Tuesday.

Read more: https://www.washingtonpost.com/politics/coal-oil-and-gas-companies-to-pay-less-in-royalties-after-interior-decision/2017/02/24/a3164016-fad5-11e6-bf01-d47f8cf9b643_story.html?utm_term=.69c52be5f471

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Less money for Us, more money for them. The Trump Way.

[benld74]

1. At a time when the US NEEDS $$$, SCROTUS decides otherwise because of his appointment

[50 Shades Of Blue]

2. FUCKERS!

[Mendocino]

3. We are a ship

that consumes it's own structure, for want of a sail.

[BumRushDaShow]

4. Watch them try to do the same for royalties paid for extraction from private land

as an attempt to reduce the payouts to the Drumpf supporters that get them.

[Hortensis]

5. Of course. Destruction of government by defunding it.

Crony capitalism by both cutting business taxes and funneling worker taxes to business.

[Sunlei]

6. that's OUR public land and OUR minerals and OUR Federal government, Republicans allow Corps to screw

the American people.

[kacekwl]

7. Why don't I just mail my tax payment

directly to Exxon.

[Yavin4]

9. No need.

Exxon will just take it out of your account directly.

[Panich52]

8. Same corps who cause worst deterioration of roads get free pass

Just how does SCROTUS plan to pay f/ infrastructure upgrades? Miniscule amounts saved by defending NEA, CPB, PP, etc won't begin to cover loss of drill & mine leases.

Esp disgusting when one considers that fracking, f/ instance, destroys county & state roads & already avoids paying f/ upkeep/repairs.

[mr_lebowski]

10. It's the good old "privatize profits, socialize costs" model ...

IOW, the favored model used by scumbag corps all over the world.

Funny how it's only the evil 'socialism' ... when the 'profits' are the matter in question.

But all of us collectively being soaked for the SOCIALIZED costs, otoh? Why that's just 'good business', isn't it?

Not 'socialism' at all ...

Fukcers ... including all who are dumb enough to 'support' this 'model' of supposed 'capitalism'.

[Panich52]

11. It misses point that ifrastructure is tied to security

After all, Eisenhower wanted the Interstate system set up more f/ security than as a public convenience.