In the US the Cost of Leasing Federal Land for Oil and Gas Companies Will Increase 15 Times
The cost of leasing federal lands in the United States for oil and gas companies will increase 15 times. The Washington Post writes about this.
The new rule, released April 12 by the Bureau of Land Management, will increase rents to $150,000 per unit, up from the current $10,000.
The future updates will be the first in more than 30 years for a federal oil and gas leasing program in the United States. In addition, oil and gas companies will have to pay increased royalties for oil and gas produced on federal lands: the rate will increase from 12.5% to 16.67%. It also plans to limit future oil drilling on Alaska’s North Slope by setting aside 13 million acres in the Arctic as a reserve.
Senator L. Murkowski expressed concern about the possible impact on the country’s energy security, warning of possible negative consequences.
The Biden administration notes the importance of legislative changes to protect sensitive ecosystems in these places.
