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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: ldo79 who wrote (406)	2/26/2001 3:16:51 PM
From: The Ox	Respond to of 23153

Senate bill gives royalty relief to big oil firms WASHINGTON, Feb 26 (Reuters) - The Senate bill introduced on Monday to overhaul the nation's energy policies would give Exxon Mobil Corp (NYSE:XOM - news) and other big oil companies a break in paying federal royalties when crude and natural gas prices fall significantly. The 325-page bill contains language that would reduce cash royalties that major energy firms pay for offshore production when oil prices fall below $18 a barrel. A similar reduction would occur for natural gas when gas prices drop below $2.30 per thousand cubic feet for 90 consecutive days.... biz.yahoo.com