Biden’s promise to end fossil fuel subsidies could be hard to keep
Monday, December 14, 2020
Resistance from legislatures within both parties could make President-elect Joe Biden’s promise to end U.S. fossil fuel subsidies hard to keep, according to Reuters.
The subsidies are worth billions of dollars a year to drillers and miners. Biden has said getting rid of them will generate money to pay for his $2 trillion climate plan.
However, reforming tax breaks that allow companies to produce oil, gas and coal more cheaply will require Congress to pass legislation. Gaining enough support to do so is likely going to be a challenge for the Biden administration.
Learn more: Reuters > Biden plan to end U.S. fossil fuel subsidies faces big challenges
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.