Iowa U.S. Sen. Chuck Grassley calls it an “outrageous giveaway” and wants to raise the royalties paid by oil and gas companies for production on federal lands.
He’s joined forces with New Mexico Democratic Sen. Tom Udall in introducing what they call the Fair Returns for Public Lands Act, one that would increase royalties by 50%. Grassley says it would end what he says is an “unnecessary subsidy” to Big Oil.
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