Press release: Trump administration reopens fossil fuel revenue loophole, cuts funds for coal counties – Aug. 7, 2017
Press release: Family farm and ranch groups decry bad deal for affected communities
BILLINGS, Mont. – The Office of Natural Resources Revenue published a final rule today in the Federal Register to repeal the fossil fuel valuation rule set by the Obama administration. In response, rancher Steve Charter, of Shepherd, Mont., released the following on behalf of the Northern Plains Resource Council and the Western Organization of Resource Councils.
“It’s now clear who wins and who loses when the Trump administration changes rules related to development of our public resources,” said Charter. “The administration is rolling back important taxpayer protections with the claim that they ‘burden’ industry. In reality, it is our local governments and schools that will be burdened by the loss of revenue. Fossil fuel companies will pay $60 million to $75 million less each year for mining and drilling taxpayer-owned coal, oil and gas. Half of this money would have gone to the states where mining and drilling occurs to fund schools, roads, and other essential services. It’s a shame the Trump administration is backing away from this common-sense rule that would have closed loopholes and brought much-needed transparency. We will remain vigilant in supporting the rule and hope it will be reinstated in the future.”