Tuesday, November 18, 2008

Disagreement over Royalty Rates for Oil Shale

An article in today's Denver Post reports that lawmakers and oil producers are at odds over the 12 percent royalty rate that the U.S. Department of the Interior has set for commercial oil-shale production--some think the rate is too low, while others consider it to be too high. Yesterday's news release from the Interior Department suggests that its final regulations "establish a commercial oil shale program that could result in the addition of up to 800 billion barrels of recoverable oil from lands in the Western United States." You can read the full text of the final rules in today's Federal Register.

The Post article mentions that the rules on oil shale will affect the states of Colorado, Wyoming, and Utah. The Colorado Geological Survey's website features facts about oil production as well as maps of Colorado's oil fields.

You can find additional resources on our Energy guide.

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