Royalty relief, not industry windfall, benefits US

The deepwater Gulf of Mexico properties have not been a problem for the oil and gas industry, even with the Deep Water Royalty Relief Program. The royalty program provided benefits that include diverted billions of dollars from going overseas, to bonus payments, lease rentals, seismic, geological studies, drilling, construction and operations in the Gulf of Mexico. This has created thousands of jobs in the US. It has invested more than $35 billion for leasing, evaluating, exploring, developing and operating in deepwater since the start of the exploration in 1974.