Are oil and gas companies cheating landowners on fracking royalties? As if ruining the nearby water supply wasn’t enough for local residents to worry about. And now these companies are cheating the landowners? This is just unbelievable if true.
Many state economies are a disaster and are ostensibly searching for revenue. Even if fracking is destroying the land, the politicians are willing to risk it all. Disasters can bring opportunity.
In the state of Pennsylvania, fracking is king and the politicians are hoping to capitalize on the frustration of the citizens. Some Democrats are considering adding more taxes on the fracking industry, with hopes of added revenue.
Sadly enough, as mentioned in the AlJazeera article, the environmental damage is rarely even mentioned. This is an agenda based on money only, and seemingly in acts of financial desperation, it signifies a nation in decline.
In fact, one of the landowners who got ripped off said that the oil and gas companies were not to be trusted. Even worse, he said that he would not vote because the politicians were unwilling to help with the issue of royalty fraud.
How do the companies cheat? It appears that the rising costs and expenses are to blame for the decreasing profits of landowners. One farmer stated that he was cheated on 90% of royalty payments!
The shocking news is that these monopolistic vultures can charge as much on fees as they want to, because there are no laws preventing them from doing it. The landowners have no legal defense in many cases.
ProPublica explains — Unfair Share: How Oil and Gas Drillers Avoid Paying Royalties.
