FOR IMMEDIATE RELEASE
APRIL 9, 2020
DENVER—A new analysis by the Center for Western Priorities found that oil and gas companies whose executives met with President Trump at the White House last week paid $6 billion in royalties on oil and gas extracted from public lands and waters between 2013-2018.
With reports suggesting that President Trump opposes blanket cuts to royalty rates, Interior Secretary David Bernhardt appears to be taking matters into his own hands, with Senator Bill Cassidy of Louisiana confirming that “Bernhardt promised to quickly process targeted royalty relief on the outer continental shelf.”
Cutting royalty rates for offshore drillers would primarily benefit Bernhardt’s former client, the National Ocean Industries Association. NOIA President Erik Milito told the Washington Examiner that cutting royalty rates “would be the quickest way to help ensure that offshore energy companies, especially the service and supply companies that make it all work, are able to weather this storm.”
The Center for Western Priorities released the following statement from Policy Director Jesse Prentice-Dunn:
“David Bernhardt has always done everything he can to help his former clients, but rarely has the payoff been as egregious as this. The Interior Secretary has made it clear that if companies want to stop paying taxpayers what they’re owed for extracting publicly-owned oil and gas, all they have to do is ask.”
CWP’s analysis found companies on NOIA’s board of directors paid nearly $4 billion in royalties in 2018 alone, and more than $19 billion from 2013‚Äì2018.
LEARN MORE
- As America fought coronavirus, Trump’s Interior Department rushed through dozens of environmental attacks [Center for Western Priorities]
- Unfinished business: Tracking the Interior Department’s remaining policy changes impacting lands, water, and wildlife [Center for Western Priorities]
- Lobbyists get bang for the bucks at Interior [Center for Western Priorities]