Posted on 04/12/2024 9:25:40 AM PDT by ChicagoConservative27
The Interior Department on Friday finalized a rule making it more expensive for oil and gas producers to drill on federally owned lands.
Several of the provisions in the rule — like raising the rent the government charges to oil companies for using its land and increasing the government’s share of the profits from that oil — were set out in law by the Democrats’ Inflation Reduction Act.
The Biden administration will additionally make it more expensive for drillers to abandon their oil wells after use instead of cleaning them up. The administration argues that current bonding rates do not do enough to ensure that companies clean up after themselves.
The administration described the changes as the first “comprehensive update” to the rules around drilling on federal lands since 1988.
(Excerpt) Read more at thehill.com ...
Behind closed doors, they’re popping champagne corks in energy-producing states that have very little Federal land. I’ll name TEXAS and PENNSYLVANIA as two good examples.
Kinda makes you think Biden doesn’t give a damn about you or what you pay to go to work. Biden’s got to be giving even the Democrats a lot of buyer’s remorse.
When Republicans are back in charge they ought to pass a law to auction off all of the oil and natural gas land to the highest American bidders.
Anything to make Americans even more miserable than they already are.
Bohica!
Yep, those costs will be passed on to the consumer. Doesn’t Joe know corporations don’t pay taxes, they collect them from the purchaser?
btt
REMIND ME AGAIN ABOUT THE FEDERAL EMPLOYEES WHO POISONED A RIVER IN COLORADO.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.