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Interior to Kill Rule on Value of Federal Oil, Gas, Coal

March 27, 2017, 10:07 PM

The White House will remove one regulatory cloud over the heads of oil, natural gas, coal and electric power companies by repealing an Obama administration change to the way fossil fuels from federal and Indian lands are valued for royalty purposes.

The Interior Department told a federal court March 23 the department would repeal the new valuation rule (RIN:1012–AA13) because several provisions in the rule did not meet the objectives of “greater simplicity, certainty, clarity, and consistency in mineral valuation reporting.”

The U.S. District Court for the District of Wyoming responded the next day by issuing a stay ...