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Biden increases crude oil royalty rate, scales back leases

Summary by Ground News

Just 173 parcels will be offered across Wyoming and seven other states. The royalty rate at the upcoming sale will be 18.75%, up from the minimum 12.5% it has used for more than a century. This would be the first federal onshore lease sale held since President Joe Biden took office.

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Colorado Sun

Biden administration increases oil and gas royalty rate, scales back lease sales

The royalty rate for new leases will increase to 18.75% from 12.5%. That’s a 50% jump and marks the first increase to royalties for the federal government since they were imposed in the 1920s.

3 years ago·Colorado, United States

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Mother Jones

Biden is opening up public lands to more oil and gas leasing

The president is backtracking on a key campaign promise.

3 years ago·United States

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The Blaze

The Biden administration resumes oil and gas leases on federal land but in a reduced capacity and with steeper fees

This past Friday, the Biden administration announced that it would resume granting lease sales for the drilling of oil and natural gas on federal lands. However, as the Washington Examiner reported, the Biden administration intends to drastically decrease the amount of federal land available for dri...

3 years ago·United States

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WND

Biden administration resumes oil and gas leases on federal lands as gasoline prices soar

(FOX NEWS) – The Department of Interior announced Friday that it will resume the sale of oil and gas leases on federal land beginning next week. The Bureau of Land Management will begin issuing final environmental assessments and sale notices on Monday for future oil and gas projects and will offer for lease "approximately 173…

3 years ago·Medford, United States

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WREX

Biden administration announces it will resume onshore oil and gas lease sales with higher royalty rate

The Department of Interior announced Friday it planned to resume onshore oil and gas lease sales on federal land, with a higher royalty rate for companies to pay to the

3 years ago

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