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Biden to Increase U.S. Oil Lease Fees 50% While Accusing ‘Big Oil’ of Anticompetitive Activities

The Purge

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The Biden-Harris administration issued a report Friday to increase the price of oil leasing fees on federal lands in the United States by 50 percent—even while accusing oil companies of artificially increasing prices through illegal and anticompetitive actions.

Despite record-high gasoline prices impacting American families across the country with winter around the corner, the Biden-Harris administration is recommending Congress hike the cost of oil leases on government lands from 12.50 percent to 18.75 percent.

The 6.25 percentage point royalty rate increase on oil companies would contradict the administration’s promise to lower gasoline prices. In recent weeks, the Biden-Harris administration has asked OPEC to increase oil supplies and requested the Federal Trade Commission conduct an investigation into oil companies for “anticompetitive behavior.”

The rate increase, according to the New York Times, would generate about an extra “$2.5 billion in new revenue by the end of the decade,” which oil companies would pay to the federal government, though consumers would absorb the increased cost the companies incur. So far, the Biden-Harris administration has collected $1.6 billion more from oil leases in 2021 than in 2020.

An increased royalty rate would be the first rate hike since 1920 and would fulfill President Biden’s campaign promise to global warming activists and the far-left.

After taking office, Biden threatened American energy independence by mandating a temporary ban on oil leases until Friday’s report was issued. But after 13 states sued and overturned the order, “Shell, BP, Chevron and Exxon Mobil offered $192 million for the rights to drill” in the Gulf of Mexico.

(Excerpt) Read more at breitbart.com ...

High energy prices are a Xiden administration policy.
 

daveman

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High gas prices are a feature, not a bug. All part of the plan to destroy the working class and make more and more people dependent on government.

If you think Democrats care about you, you're a moron and get what you deserve. I just wish you didn't take normal people down the toilet with you.
 

Concerned American

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The Biden-Harris administration issued a report Friday to increase the price of oil leasing fees on federal lands in the United States by 50 percent—even while accusing oil companies of artificially increasing prices through illegal and anticompetitive actions.

Despite record-high gasoline prices impacting American families across the country with winter around the corner, the Biden-Harris administration is recommending Congress hike the cost of oil leases on government lands from 12.50 percent to 18.75 percent.

The 6.25 percentage point royalty rate increase on oil companies would contradict the administration’s promise to lower gasoline prices. In recent weeks, the Biden-Harris administration has asked OPEC to increase oil supplies and requested the Federal Trade Commission conduct an investigation into oil companies for “anticompetitive behavior.”

The rate increase, according to the New York Times, would generate about an extra “$2.5 billion in new revenue by the end of the decade,” which oil companies would pay to the federal government, though consumers would absorb the increased cost the companies incur. So far, the Biden-Harris administration has collected $1.6 billion more from oil leases in 2021 than in 2020.

An increased royalty rate would be the first rate hike since 1920 and would fulfill President Biden’s campaign promise to global warming activists and the far-left.

After taking office, Biden threatened American energy independence by mandating a temporary ban on oil leases until Friday’s report was issued. But after 13 states sued and overturned the order, “Shell, BP, Chevron and Exxon Mobil offered $192 million for the rights to drill” in the Gulf of Mexico.

(Excerpt) Read more at breitbart.com ...

High energy prices are a Xiden administration policy.
So much bullshit from Biden. Anti competitive? The fucking Saudis are paying $2.35 a gallon as of last week (8.82 Saudi Riyals) Saudi Arabia gasoline prices, 22-Nov-2021 | GlobalPetrolPrices.com Fuck Joe Biden--he won't be happy until our average is $8/gal like Europe. That anti American POS deserves whatever terrible fate awaits him.
 

toobfreak

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Biden to Increase U.S. Oil Lease Fees 50% While Accusing ‘Big Oil’ of Anticompetitive Activities​


Boy, when the next GOP president is in office in a couple years, it is going to be like a rubber band snapping back with a nation sighing a sigh of relief to be rid of Biddum.
 

night_son

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So much bullshit from Biden. Anti competitive? The fucking Saudis are paying $2.35 a gallon as of last week (8.82 Saudi Riyals) Saudi Arabia gasoline prices, 22-Nov-2021 | GlobalPetrolPrices.com Fuck Joe Biden--he won't be happy until our average is $8/gal like Europe. That anti American POS deserves whatever terrible fate awaits him.

A gallon of gasoline costs around $1.74 in Puerto Rico and thirty-eight cents in Nigeria. Perhaps we Americans ought to emigrate there.
 

Concerned American

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A gallon of gasoline costs around $1.74 in Puerto Rico and thirty-eight cents in Nigeria. Perhaps we Americans ought to emigrate there.
We're already subsidizing Puerto Rico and Nigeria gas prices--close off the immigration from Nigeria and cut off the subsidies to PR.
 

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