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Bill Aims to Keep Wyoming Fossil Fuel Producers in the State
Senate File 0084 on Monday passed out of the Senate Minerals Committee by a 4 to 1 vote. According to a release issued by State Senator for District 2 Brian Boner, the bill aims to keep Wyoming fossil fuel producers working in the State and comes as reports have surfaced that the U.S. Bureau of Land Management is considering raising the oil and gas royalty tax rate from the current 12.5 percent to over 18 percent on minerals extracted on federal lands.
In Wyoming, the State receives almost half of the federal mineral royalty tax; therefore, an increase in the tax eventually increases the state’s dependency on the mineral industry for tax revenue. In the proposed bill draft, this would change. The draft language directs the State Treasurer’s Office to issue a check to each producer that would be “equal to” the state’s share of the federal royalty rate increase as of July 1, 2023. The bill now moves to the Senate floor for debate.
Clark Guelde
February 21, 2022 at 9:59 pm
So the state is broke but they’re going to refund the taxes they’re rightfully entitled to back to the people who paid them? Maybe we all ought to be demanding our refund checks too? Seriously are these people totally and absolutely inept?
Olivia Cupant
February 22, 2022 at 9:26 am
The level to which our “leaders” in this state will stoop to kowtow to the fossil fuel industries is astonishing.
To answer Clark Guelde’s question: Yes they are. And you’re probably being generous in your assessment.
Clark Guelde
February 22, 2022 at 9:43 am
Given the fact that energy prices are through the roof and will stay that way for the foreseeable future a bill like this is totally inexcusable. The world is begging for oil so we don’t need to beg them to come and drill here.
Mark Steingass
February 22, 2022 at 9:30 am
they probably figure they will get the money back with an additional gas/diesel tax