House Seeks To Boost Fossil Royalty Rates As DOI Faces Complicated Path

Budget reconciliation legislation approved late last week by the House Natural Resources Committee would raise royalty rates for fossil fuels extracted from federal lands, measures that if enacted could ease the Biden administration’s increasingly complicated regulatory path to raising the rates in part to address climate costs. The legislation, approved on a party-line vote Sept. 9, raises the onshore fossil fuel royalty rate under the Mineral Leasing Act, for a range or resources. “The committee voted to raise public money...