• 3 hours Keystone Pipeline Restart Still Unknown
  • 7 hours UK Offers North Sea Oil Producers Tax Relief To Boost Investment
  • 9 hours Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell
  • 11 hours Trader Trafigura Raises Share Of Oil Purchases From State Firms
  • 13 hours German Energy Group Uniper Rejects $9B Finnish Takeover Bid
  • 14 hours Total Could Lose Big If It Pulls Out Of South Pars Deal
  • 16 hours Dakota Watchdog Warns It Could Revoke Keystone XL Approval
  • 1 day Oil Prices Rise After API Reports Major Crude Draw
  • 1 day Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 1 day Gazprom Speaks Out Against OPEC Production Cut Extension
  • 1 day Statoil Looks To Lighter Oil To Boost Profitability
  • 2 days Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 2 days Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 2 days Whitefish Energy Suspends Work In Puerto Rico
  • 2 days U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 2 days Thanksgiving Gas Prices At 3-Year High
  • 2 days Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 2 days South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 3 days Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 3 days Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 3 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 3 days ConocoPhillips Sets Price Ceiling For New Projects
  • 5 days Shell Oil Trading Head Steps Down After 29 Years
  • 5 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 5 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 5 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 6 days Venezuela Officially In Default
  • 6 days Iran Prepares To Export LNG To Boost Trade Relations
  • 6 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 6 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 6 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 6 days Rosneft Announces Completion Of World’s Longest Well
  • 6 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 7 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 7 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 7 days Santos Admits It Rejected $7.2B Takeover Bid
  • 7 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 7 days Africa’s Richest Woman Fired From Sonangol
  • 7 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 7 days Russian Hackers Target British Energy Industry

Breaking News:

Keystone Pipeline Restart Still Unknown

Alt Text

Oil Survives Bearish Backlash

Crude benchmarks posted steep losses…

Alt Text

The Surprise Winners Of The Oil Price Rally

The recent rally in oil…

Alt Text

Tesla Investors Are Losing Patience

Elon Musk has a history…

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

Clinton Campaign Pledges to Raise Fed Royalties for Oil Companies

Clinton Trump

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:




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