Published 2 years ago

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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The Guardian

Public lands to reopen for oil and gas drilling in a first under Biden | US news | The Guardian

Interior department raises royalty rates by 50% as administration juggles high oil prices and climate impact

2 years ago·London, United Kingdom

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The Independent

Biden administration opens up public lands for more oil and gas drilling

Republicans are pressuring Mr Biden to expand US crude production and rein in higher gas prices as the pandemic and war in Ukraine roil the global economy

2 years ago·London, United Kingdom

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Reuters

U.S. to resume oil, gas drilling on public land despite Biden campaign pledge

The Biden administration on Friday said it has resumed plans for oil and gas development on federal lands, a move that could break a pledge Joe Biden made while campaigning for president.

2 years ago·United Kingdom

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Associated Press News

Biden increases oil royalty rate, scales back lease sales

BILLINGS, Mont. (AP) — The Interior Department on Friday said it’s moving forward with the first onshore sales of public oil and natural gas drilling leases under President Joe Biden, but will sharply increase royalty rates for companies as federal officials weigh efforts to fight climate change against pressure to bring down high gasoline prices.

2 years ago·United States

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abc News

Biden increases crude oil royalty rate, scales back leases

The Biden administration is sharply raising rates for royalties companies must pay for oil and natural gas extracted from federal lands as it moves forward under court order with sales of public fossil fuel reserves in nine states

2 years ago·United States

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