Ohio Comm. Says 12.5% Royalties for State Land Drilling Too Cheap
In January, Ohio House Bill (HB) 507 became law with the signature of Gov. Mike DeWine (see OH Gov. Signs Bill Expanding Drilling in State Parks, NatGas “Green”). The new law allows shale drilling under (but not on top of) Ohio state-owned land, including state parks. HB 507 encourages (pushes for) more drilling under state-owned land. The special commission created to award contracts — called the Ohio Oil & Gas Land Management (OGLM) Commission — met yesterday to consider the 12+ “nominations” (requests to drill) received so far. The meeting was beset with silly anti-fossil fuelers (most of them old hippies) behaving like the silly horse’s rear-ends they are. Dressed up, parading around, and singing (ever notice how lefties like to play dress-up?). Aside from the distraction of antis, the topic of discussion that caught our attention was the royalty rate supposedly established by the state legislature that must be used in all contracts. OGML members say the established rate they must use is WAY too low and somehow needs to be changed.
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