You can bet that this will make some talking points. The new Congress is really going to stick it to Big Oil. New fees! Reversal of tax cuts! Back royalty fees!
High five, everyone! Way to go! ‘Bout time!
(Special Note: When the gas price increase this brings hits the pumps, just blame Bush. And totally, totally, totally ignore the fact that the leases which omitted the increased royalty payments went through in 1998 and 1999. Remember: It’s only Republicans who are friendly with Big Oil. The new Democrat Congress is all about helping you.)