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Save our energy industry by slashing royalty payments and energy taxes now

Stephen Moore, Washington Examiner

We could slash the taxes paid by our onshore drillers and royalties on drillers in the Gulf of Mexico and on federal lands. These royalties paid to Uncle Sam can range from a "tax" of between 12% and 18.5%. Ending the royalties through the end of the year would lift the after-tax price paid to drillers by as much as $5 a barrel. This would apply to about 4 million barrels of oil per day on federal properties. The feds now collect about $6 billion a year in royalties. Canceling those payments would be a small price to pay to save an industry that employs several million workers. Under federal law, the president has the executive authority to take this action.

https://www.washingtonexaminer.com/opinion/save-our-energy-industry-by-slashing-royalty-payments-and-energy-taxes-now