Oil company at center of Orange County spill received millions in federal relief

  • 📰 latimes
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 82%

France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

Beta Offshore received a $20-million 'end of life' royalty discount. It also received a $11-million discount because it planned to drill new wells.

The energy company at the center of a massive oil spill off the Orange County coast has received roughly $31 million in federal relief since 2016, Rep. Katie Porter said during a congressional subcommittee hearing on Monday.

The “special case” discount granted by the Bureau of Safety and Environmental Enforcement will cut the company’s royalty payment by roughly $11 million on drilling operations off the Orange County coast through 2022. “These subsidies and so many others are reasons that oil wells like the ones behind this leak are still active,” Porter said. “Getting rid of the subsidies is the first step to get rid of the problem.”

In Southern California, Amplify operates two platforms, Ellen and Eureka, which are equipped with drilling rigs and other equipment.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 11. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

OF COURSE THEY DID

Go get them, RepKatiePorter

I love her

good luck

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

‘Crazy’ Bets on $200 Oil Invade the Options Market“I haven’t seen crazy strikes like this in a long time.” Traders have piled into wagers that U.S. oil prices will top $100, while some are betting Brent crude will hit $200 next year. Nope never happen... Electric cars and less travel. Plus South Dakota gas. It worked lat year from GameStop to Tesla, so why not? 😶
La source: WSJ - 🏆 98. / 63 Lire la suite »