Permian Basin Royalty Owners Start Grass-Roots Campaign

Royalty owners in New Mexico and west Texas have started a grass-roots campaign against foreign oil imports. They started their movement with forums this week in the Permian Basin region, all with the goal of saving a major sector of the national economy.

Supporters want the next President of the U.S. to issue a proclamation setting quotas for imports. It’s something that has not been done for four decades. Upset over layoffs and losses due to low energy prices, the royalty owners largely blame Middle East producers for flooding the market and fueling the price war.

 

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