Biden administration signals increase in federal oil and gas drilling royalty rate

Royalty rates have not been raised in 100 years

summer landscape oil pumps in the grain fields on the background of the blue sky on a sunny day

The Biden administration is recommending reforms to the federal government’s oil and gas leasing program, including higher royalty rates for oil and gas drilling on federal land, and more public involvement in leasing processes. The report comes as the administration announced a release of 50 million barrels of oil from the Department of Energy’s Strategic […]

Already subscribed, click below. 
Exit mobile version