Government ends Royalty-in-Kind programme
US secretary of the interior Ken Salazar this week announced plans to reform management of US energy resources, including the termination of the Minerals Management Service’s (MMS) Royalty-in-Kind programme.
The programme accepts oil and natural gas from producers in lieu of cash royalties.
According to a statement from the Department of the Interior, the current Royalty-in-Kind programme "involves the federal government excessively in oil and gas markets and the Government Accountability Office has found the programme may not ensure fair return to the Treasury".
Testifying before the House Natural Resources Committee on Wednesday, Salazar outlined a new energy strategy for US public lands and the
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