U.S. to form panel to review energy royalty rates on federal land: Interior Dept.

Reuters News
Posted: Mar 29, 2017 1:15 PM

WASHINGTON (Reuters) - The U.S. Interior Department on Wednesday said it would form a new committee that will review royalty rates collected from oil and gas drilling and coal mining on federal lands to ensure taxpayers receive their full value.

Interior Secretary Ryan Zinke said the committee would advise him on whether the government is getting a fair price from companies that lease public land for energy and natural resource development.

The 20-member committee will be created to replace the process put in place by former Interior secretary Sally Jewell to review and overhaul the federal coal leasing program.

(Reporting by Valerie Volcovici; Editing by Lisa Von Ahn)