President Joe Biden’s administration advanced efforts on Friday that would raise the costs for drilling for oil and gas on public lands.
The U.S. Department of the Interior and its Bureau of Land Management (BLM) announced a revised fee schedule on April 12 for its onshore federal oil and gas leasing program. The department said this updated fee schedule includes royalty rates, rental rates, and minimum bids to lease public land for drilling projects.
“These are the most significant reforms to the federal oil and gas leasing program in decades, and they will cut wasteful speculation, increase returns for the public, and protect taxpayers from being saddled with the costs of environmental cleanups,” Interior Secretary Debra Haaland said of the plan….
