Sen. Panel Votes To Repeal Mandatory Offshore Royalty Waivers

"The Senate Energy and Natural Resources Committee today approved the repeal of mandatory royalty waivers, also called 'royalty relief,' required under a 2005 energy law for certain offshore oil and gas production.

Chairman Jeff Bingaman's (D-N.M.) plan would leave it to the Interior Department to decide whether to offer royalty relief. It passed, 12-11, along party lines, with Democrat Mary Landrieu of Louisiana, an oil and gas industry ally, voting with Republicans to oppose the plan.

The 2005 energy law requires royalty relief for deepwater Gulf of Mexico oil and gas production and gas from deep wells in shallow gulf waters."

Ben Geman reports for Greenwire in the New York Times June 16, 2009.

Source: Greenwire, 06/17/2009