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I guarantee We Are Going To Get Rid of Fossil Fuels” September 06, 2019, 5:49 PM
Oil and gas companies will have to pay more to drill on public lands and satisfy stronger requirements to clean up old or abandoned wells, according to a final rule issued Friday by the Biden administration.
The Interior Department’s rule raises royalty rates for oil drilling by more than one-third, to 16.67%, in accordance with the sweeping 2002 climate law approved by Congress. The previous rate of 12.5% paid by oil and gas companies for federal drilling rights had remained unchanged for a century.
But officials said the proposal would lead to a more responsible leasing process that provides a better return to U.S. taxpayers.
www.ocregister.com
www.trade.gov
Oil and gas companies will have to pay more to drill on public lands and satisfy stronger requirements to clean up old or abandoned wells, according to a final rule issued Friday by the Biden administration.
The Interior Department’s rule raises royalty rates for oil drilling by more than one-third, to 16.67%, in accordance with the sweeping 2002 climate law approved by Congress. The previous rate of 12.5% paid by oil and gas companies for federal drilling rights had remained unchanged for a century.
But officials said the proposal would lead to a more responsible leasing process that provides a better return to U.S. taxpayers.
Biden administration’s new rule: Oil, gas companies must pay more to drill on public lands
The new rule does not prohibit new oil and gas leasing on public lands, as many environmental groups have urged. But officials say it would lead to a process that provides a better return to taxpay…
www.ocregister.com
Exclusive: Mexico to cut at least 330,000 bpd of crude exports in May, sources say
5.05 billion barrels per year imported by USA from Mexico.Mexico - Oil and Gas
This is a best prospect industry sector for this country. Includes a market overview and trade data.
