And if I'm not mistaken, 12.5% is lower than the rates for oil and gas produced on state lands in Colorado and Texas, is that correct? And Wyoming as well. So lower may actually be an understatement on my part. Texas typical royalty rate has been double the federal rate or 25% for more than 30 years. Colorado too just increased its own or increased its rate to 20% seven years ago. Further still, officials in both states went on record during the Trump administration to report that these rate increases have not had a noticeable impact on production or leasing. (03:43–03:52)
CLAIM
Asserts that Texas's royalty rate for oil and gas has been 25% for over 30 years.
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