Institute for Energy Research: Biden Administration Proposes to Raise Drilling Costs on Federal Lands
July 27, 2023
July 27, 2023
WASHINGTON, July 27 -- The Institute for Energy Research issued the following agency statement on July 26, 2023:
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The Interior Department's Bureau of Land Management (BLM) has proposed increasing royalty rates for oil and natural gas drilling on federal lands from 12.5 percent to 16.67 percent--about a third higher-and raising the minimum bond paid upon purchasing an individual drilling lease from $10,000 to $150,000. To top it off, they propose raising the mi . . .
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The Interior Department's Bureau of Land Management (BLM) has proposed increasing royalty rates for oil and natural gas drilling on federal lands from 12.5 percent to 16.67 percent--about a third higher-and raising the minimum bond paid upon purchasing an individual drilling lease from $10,000 to $150,000. To top it off, they propose raising the mi . . .