US to Resume Oil, Gas Drilling on Federal Lands, With Increased Oil Royalty Rate

Oil rigs extract petroleum in the Los Angeles area community of Culver City, California, on April 25, 2008. (David McNew/Getty Images)

The Biden administration on April 15 said it would resume plans to facilitate oil and gas drilling on federal lands, but that it would offer fewer acres of land than initially proposed for lease sales, and charge higher royalties to oil and gas companies.

The Interior Department’s Bureau of Land Management (BLM) will make 144,000 acres of federal land available for leasing by energy companies. The figure is about 80 percent less than the 733,000 acres that had previously been under evaluation.

Read More:…

Latest TV Episodes