• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 3 mins Iran Loses $130,000,000 Oil Revenue Every Day They Continue Their Games . . . .Opportunity Lost . . . Will Never Get It Back. . . . . LOL .
  • 6 hours Renewables provided only about 4% of total global energy needs in 2018
  • 2 days Iran Captures British Tanker sailing through Straits of Hormuz
  • 1 hour Berkeley becomes first U.S. city to ban natural gas in new homes
  • 1 day EIA Reports Are Fraudulent : EIA Is Conspiring With Trump To Keep Oil Prices Low
  • 3 days Drone For Drone = War: What is next in the U.S. - Iran the Gulf Episode
  • 3 days Today in Energy
  • 11 hours Shale Oil will it self destruct?
  • 7 hours So You Think We’re Reducing Fossil Fuel? — Think Again
  • 50 mins N.Y. Governor Signs Climate Bill
  • 30 mins First limpet mines . . . . now fly a drone at low altitude directly at U.S. Navy ship. Think Iran wanted it taken out ? Maybe ? YES
  • 2 days Oil Rises After Iran Says It Seized Foreign Tanker In Gulf
  • 17 hours U.S. Administration Moves To End Asylum Protections For Central Americans
  • 3 days LA Solar Power/Storage Contract
Alt Text

It’s Time For A Fire Sale In U.S. Shale

The U.S. shale patch is…

Alt Text

China Records Rare Drop In Gasoline Output

China just reported a drop…

Alt Text

Clean Energy Acquisitions Pick Up

The fear of a new…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Premium Content

Clinton Campaign Pledges to Raise Fed Royalties for Oil Companies

Companies extracting oil, gas and coal from U.S. federal lands will see royalties due to the government increase if Hillary Clinton becomes the country’s next president, the candidate’s campaign said.

The current 12.5-percent rate would be raised to be in line with the 16 percent to almost 19 percent that some states already impose, in a promised move the Clinton campaign described as only “fair”.

Beyond that, Clinton would also determine new oil leasing on federal lands based on how fast renewable energy is developing—presumably to ensure that renewables outpace oil and gas. In other words, renewables would be given preference on federal lands.

It goes far beyond what President Barack Obama has done. Related: The U.S. Might Soon Lose Its No.1 Position In Petroleum Production

Clinton has discussed similar policy changes in the past, but this is the first time she has provided specific details of the proposal.

Environmental groups had been lobbying the likely Democratic nominee to ban all fossil fuel production on federal land in order to limit greenhouse gas emissions.

On the Republican side, Donald Trump had made increasing oil and natural gas production on federal lands a centerpiece of his energy platform. He claims the move would release $50 trillion worth of “untapped” energy supplies into global markets and create sizable revenues for the federal government.

Trump’s plans also including removing regulatory obstructions in leasing lands for drilling purposes and revoking renewable energy subsidies.

Clinton’s plan would increase renewable energy production on government lands tenfold over the next decade, which she plans to implement by expediting the permit process for up and coming renewable energy projects. Military bases would also begin using more green energy. Related: BP Oil Cargoes in Limbo at Terminal as Venezuela Can’t Pay its Bills

The Natural Resources Defense Council endorsed Hillary Clinton on Wednesday, marking its first political endorsement in a presidential election, according to The Washington Post.

“Hillary Clinton is an environmental champion with the passion, experience and savvy to build on President Obama’s environmental legacy,” the group said in a statement. “More than any other candidate running, Hillary Clinton understands the environmental challenges America faces, and her approach to solving them is grounded in the possibility and promise our democracy affords us.”

Earlier this year, the Obama administration started a three-year moratorium on new leases for coal production on federal lands. In the meantime, the Department of the Interior will determine whether or not royalty rates will increase in order to make up for the environmental disadvantages of coal production.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage


Leave a comment
  • BrentDenver on June 02 2016 said:
    The Feds are not issuing leases of any significance anyway. "Make America Weak" Oil royalties are the least of our worries.
  • Kris h on June 04 2016 said:
    Raise rates and chase off more taxable business , soo smart these dems.
  • Cowboy on June 07 2016 said:
    Way to leave Sanders completely out of the story.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play