Osage Nation Rejects Proposed Oil Rules, Citing Red Tape
Nation says BIA’s new oversight plan for mineral estate would hamper oil and gas production and reduce income for shareholders
Osage Nation’s ranch in Osage County, Oklahoma.
Photographer: Shane Brown/Bloomberg Businessweek
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The Osage Nation rejected sweeping new rules proposed last month by the US Department of Interior covering the tribe’s massive mineral estate.
The draft rules would hamper oil and gas production, according to Osage Principal Chief Geoffrey Standing Bear, reducing a critical source of income for many of the tribal nation’s shareholders in the Osage Mineral Estate, a nearly 1.5-million-acre collection of oil and gas rights.