bripat9643
Diamond Member
- Apr 1, 2011
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The "unlike" part has to do with royalties.You don't use mines to get oil and gas.Yes it does![
It doesn't cover oil and gas.
The Mining Law gives anyone the right to stake a mining claim on open public land if they discover a “valuable deposit” of minerals. All other types of mine proposals (e.g. coal, oil, and gas) on public lands must be weighed against other potential land uses before permittal.
The Mining Law promotes development by allowing mining interests to --
- take valuable hardrock minerals including gold, silver, and uranium from public lands without royalty payment to the taxpayer -- unlike other mining industries that extract coal, oil or natural gas;
The part you left out:
Multinational mining companies extract over a billion dollars of public minerals from public lands each year. Coal, oil, and natural gas companies pay a 8 to 12.5% royalty for extracting resources from federal public lands. The Mining Law also offers mineral bearing public land for sale at $2.50 - $5 per acre – 1872 prices.
So, in other words, corporations don't get to pump oil out of the ground for free. They have to pay for it. They negotiate oil leases with the federal government.
That isn't a subsidy, bonehead.