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Industry slams plans to raise leasing fees.

Publication: The Oil Daily
Publication Date: 18-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Oil and gas industry leaders expressed alarm Thursday over House energy legislation that would raise leasing fees and increase the regulatory burden associated with oil and gas production in the US.

Legislation developed by Natural Resources Committee Chairman Nick Rahall (D-West Virginia) would overhaul the federal oil and gas leasing system by ending royalty relief measures and imposing new environmental regulations.

The plan would also increase minimum bonus bids and rental fees. The bill is in line with the goals of Interior Secretary Ken Salazar, who intends to crack down on royalty relief and toughen the...

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