Our dependence on imported oil has put this country's energy needs at the mercy of foreign producers and jeopardized our national security. These funds are vital to oil producing States like Wyoming for schools and other necessary public services. My hope is to have a bill ready to introduce before the Easter break. Revenues to the State and federal treasuries would increase under such a system, compared to the current royalty structure where the value reported is often second-guessed by government auditors, resulting in constant and expensive court battles. Such a move, said Cubin, would make oil and gas operations more efficient and reduce administrative burdens and associated costs.
Independent producers are the backbone of rural western economies.