Federal royalty rates too low, report says

The federal government should increase its royalty rates on minerals because its rate is lower than those of energy-
producing western states, according to a report. The Denver-based…


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If an energy-industry spokesman called the idea a “reckless proposal,” I’m wondering who s/he thinks owns the resource. I think the reckless proposal was when America decided to give their resources to extractive industries without some kind of profit sharing arrangement. Note that I said “profit sharing.” I’m not saying that private industries developing our resources shouldn’t be paid for the value they add through production, “profit sharing” implies that the revenue is shared AFTER the costs of production are deducted. Wouldn’t profit sharing be more equitable for the people who actually own the resource?

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