A bill to suspend the application of any provision of Federal law under which persons are relieved from the requirement to pay royalties for production of oil or natural gas from Federal lands in periods of high oil and natural gas prices, to require the Secretary to seek to renegotiate existing oil and natural gas leases to similarly limit suspension of royalty obligations under such leases, and for other purposes.
Royalty Relief for American Consumers Act of 2006 - Directs the Secretary of the Interior to suspend royalty relief from any federal requirement to pay royalty (thus requiring the payment of royalties to the federal government) for production oil or natural gas from federal lands (including submerged land) during any period in which specified prices apply to either crude oil or natural gas.
Instructs the Secretary to renegotiate certain existing leases authorizing production of oil or natural gas on federal land to conform with this Act.
Conditions eligibility for renewal of such leases or new leases for existing lessees upon compliance with this Act.
Executive Comment Requested from Interior.
Introduced in Senate
Read twice and referred to the Committee on Energy and Natural Resources.
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