If ban on oil exports is lifted, national security and economic development could benefit
Monday, December 21, 2015
The Intelligencer / Wheeling News-Register reports that there is talk of lifting the ban on oil exports that was put in place in the 1970s.
Forty years ago, there was a gas shortage, but today, production has increased, especially in the Utica and Marcellus shales. In just the first three quarters of 2015, Ohio shale drillers produced 15.7 million barrels of oil.
According to American Petroleum Institute president and CEO, lifting the ban could add 1 million jobs over the course of the next several years, plus add $38 billion to the economy. API will ask the U.S. House of Representatives to pass the legislation, according to the newspaper.
Via: The Intelligencer / Wheeling News-Register > Oil Exports Could Happen Under Agreement
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Depending on the company, royalty payments can arrive monthly or quarterly.
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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.
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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.