Oil Pollution Taxpayer and Environment Protection Act - Amends the Outer Continental Shelf Lands Act to declare that any royalty under an oil and gas lease on submerged lands of the outer Continental Shelf shall apply to all oil that is removed under the lease and discharged into waters of the United States or ocean waters.
Increases the minimum royalty under such leases from 12.5% to 20%.
Requires the Secretary of the Interior to: (1) ensure that royalty and other payments required for each lease provide a fair return to the United States; (2) publish in the Federal Register for each lease an explanation of how the payments were derived; (3) consider average rates for those payments that are required by other countries; and (4) require the use of an electronic flow monitoring system on each well drilled under a lease under the Act that provides an accurate accounting of oil and gas removed under the lease.
Amends the Energy Policy Act of 2005 to repeal royalty relief (suspension of royalties) for: (1) natural gas production from deep wells in the Gulf of Mexico; and (2) deep water oil and gas production in the Western and Central Planning Area of the Gulf (including the portion of the Eastern Planning Area encompassing whole lease blocks lying west of 87 degrees, 30 minutes West longitude).