{"id":2219440,"date":"2024-04-12T14:09:02","date_gmt":"2024-04-12T18:09:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-raises-cost-for-oil-and-gas-drilling-on-public-lands-for-first-time-in-decades\/"},"modified":"2024-04-12T14:12:20","modified_gmt":"2024-04-12T18:12:20","slug":"biden-administration-raises-cost-for-oil-and-gas-drilling-on-public-lands-for-first-time-in-decades","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-raises-cost-for-oil-and-gas-drilling-on-public-lands-for-first-time-in-decades\/","title":{"rendered":"The Biden administration increases fees for oil and gas drilling on public lands after decades"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-administration-raises-cost-for-oil-and-gas-drilling-on-public-lands-for-first-time-in-decades%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2219440&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Interior\u200c Department raised fees for oil and gas drilling on public lands\u2064 to increase revenue and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-visits-kentucky-says-federal-government-will-cover-cleanup-costs-for-30-days\/\" title=\"Biden Visits Kentucky, Says Federal Government Will Cover Cleanup Costs For 30 Days\">cover cleanup costs<\/a>. President Joe Biden&#8217;s administration has faced\u2063 criticism from oil and\u2063 gas \u200bproducers\u2064 for \u200cits \u2064fluctuating stance on drilling. The new rule \u2063requires oil companies to \u2064pay \u2062significantly higher fees for leasing federal lands. This \u200dmove is part of Biden&#8217;s \u2062efforts to balance climate goals\u2063 with energy\u2062 security concerns.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/biden-administration\" target=\"_blank\" rel=\"noopener\" title=\"Interior Department \">Interior Department<\/a> raised the cost for <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/oil\" target=\"_blank\" rel=\"noopener\" title>oil<\/a> and gas companies to drill on public lands, raising leasing fees and royalty rates for the first time in decades, a move justified as generating more money for taxpayers and ensuring adequate cleanup costs.<\/p>\n<p>Interior officials said the final rule is the first update to the oil and <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/gas\" target=\"_blank\" rel=\"noopener\" title>gas<\/a> leasing program in decades, and the first update to the so-called \u201cbonding requirement\u201d since 1960.<\/p>\n<p>President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joe-biden\/\" target=\"_blank\" rel=\"noopener\" title>Joe Biden<\/a> campaigned in 2020 on the promise of ending all new drilling on public lands, a pledge he has since backed away from as he has sought to balance his goals on climate with issues of energy security. Still, Interior\u2019s new rule will spark pushback from oil and gas producers, who have argued Biden has whipsawed between urging them to drill more following Russia\u2019s 2022 invasion, and then blaming them just months later for the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-announces-ban-on-russian-oil-as-ukraine-invasion-continues\/\" title=\"Biden Announces Ban On Russian Oil As Ukraine Invasion Continues\">record-high gas prices<\/a>.<\/p>\n<p>\u201cThis is another rule by the Biden Administration meant to deliver on the president\u2019s promise of no federal oil and natural gas,\u201d Western Energy Alliance\u00a0President Kathleen Sgamma said in a statement on Friday. The group represents independent oil and gas companies.  <\/p>\n<p>Biden has also announced a series of overtures to appease environmental groups, including ordering the permanent ban on drilling on more than 10 million acres on <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/Alaska\" target=\"_blank\" rel=\"noopener\" title>Alaska<\/a>\u2019s North Slope, and, most recently, pausing the approval of new liquified natural gas terminals in the United States in order to consider environmental concerns.<\/p>\n<p>Under the new rule published Friday, oil companies will be required to pay $150,000 per lease on federal lands \u2014 a fifteenfold increase.<\/p>\n<p>Roughly one-half of the bond requirement funds will go to states, officials said, while one-third will be used to fund <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/water\" target=\"_blank\" rel=\"noopener\" title>water<\/a> projects in the West. The remainder will be split between the Treasury and Interior Departments. <\/p>\n<p>Companies will also be required to pay higher royalties from the profits of oil and gas produced on these lands \u2014 up to 16.67%, compared to 12.5%, which the administration said better reflects the higher prices of most private land owners. <\/p>\n<p>Interior officials estimate the new rules will increase costs for oil and gas drillers by roughly $1.5 billion between now and 2031, when rates could increase again. <\/p>\n<p>They also touted the price increases as a way for companies to return money to states for using the land, and to protect <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/taxpayers\" target=\"_blank\" rel=\"noopener\" title>taxpayers<\/a> from shouldering the burden of cleaning up abandoned wells, or so-called \u201corphan wells\u201d across the U.S.<\/p>\n<p>\u201cThese are the most significant reforms to the federal oil and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-suspends-oil-leases-in-alaskas-arctic-refuge-as-gas-prices-continue-to-rise\/\" title=\"Biden Suspends Oil Leases In Alaska\u2019s Arctic Refuge As Gas Prices Continue To Rise\">gas leasing program<\/a> 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,\u201d Interior Secretary Deb Haaland said in a statement. <\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/environment\" target=\"_blank\" rel=\"noopener\" title>Environmental<\/a> groups cheered the update, which they said would curtail the massive profits from U.S. oil and gas companies and direct more of the profits back to taxpayers instead. <\/p>\n<p>\u201cThese new regulations are the kind of common-sense reforms the federal oil and gas leasing program has needed for decades. The days of oil and gas companies locking up public lands for decades for pennies on the dollar and leaving polluted lands, water, and air in their wake are over,\u201d Sierra Club lands protection director Athan Manuel said in a statement.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Interior Department increased fees for oil and gas drilling on public lands, including raising leasing fees and royalty rates \u2013 the first update in decades. This move aims to boost revenue for taxpayers and cover cleanup expenses, marking a significant change in policy regarding drilling on public lands<\/p>\n","protected":false},"author":2650,"featured_media":2219441,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP20269839761370-1024x678.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2219440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP20269839761370-1024x678.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2219440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2219440"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2219440\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2219441"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2219440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2219440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2219440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}