April 17, 2018 / 6:05 PM / in 5 months

Interior secretary says won't lower oil, gas offshore royalty rates 'at this time'

WASHINGTON, April 17 (Reuters) - Interior Secretary Ryan Zinke said on Tuesday he will not lower royalty rates for offshore oil and gas lease sales “at this time” despite a recommendation from an advisory panel to do so.

Zinke cited the success of President Donald Trump’s energy strategy as a reason for not adhering to the recommendation of his appointed Royalty Policy Committee, which in late February advised him to slash the royalty rate for offshore drilling by nearly one-third to 12.5 percent.

“Right now, we can maintain higher royalties from our offshore waters without compromising the record production and record exports our nation is experiencing,” Zinke said. (Reporting By Valerie Volcovici; editing by Jonathan Oatis)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below