Rolling Stone: “Billions for Oil and Gas Companies”
A story about the reconciliation bill’s impact on the fossil fuel industry cites RFF If/Then analysis on changing royalty rates for federal oil and gas leases.
While increasing access to public lands, the Big Beautiful Bill slashes the royalties that producers pay the government to pump our oil and gas, stimulating increased production.
Royalties for drilling on public land are reduced by about 25 percent, at a cost estimated at $6 billion to taxpayers over the next 10 years and increasing to an average of $3 billion annually through 2050, according to think tank Resources for the Future.
