- The U.S. Interior Department today repealed Obama-era rules that changed how energy companies value sales of oil, gas and coal extracted from federal and tribal land, saying they caused "confusion and uncertainty" for energy companies.
- The valuation rule proposed last year required energy companies to pay royalties on sales to the first unaffiliated customer, known as an arm's-length sale, as the fuel moves to market.
- Interior Secretary Zinke said the valuation rule had increased costs for coal, oil and gas companies, which hurt production on federal lands, "making us rely more and more on foreign imports of oil and gas."
- Also, the department today began an overhaul of an Obama-era plan to protect sage grouse that it says will both preserve the species while expanding opportunities for oil development in western states where they live.
- ETFs: XLE, VDE, ERX, XOP, OIH, GASL, FCG, ERY, DIG, BGR, FENY, DUG, IYE, GUSH, IEO, DRIP, FIF, GASX, PXE, NDP, RYE, PXJ, FXN, CRAK, DDG, NANR, SOP, UOP
- Now read: Missing Risk Premium Could Lead To Oil Price Shock
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Trump administration rescinds Obama rule on energy fees for federal lands
Published 08/07/2017, 07:17 PM
Trump administration rescinds Obama rule on energy fees for federal lands
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