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US Interior recommends raising oil and gas royalty rates, limiting lease sales
Ist Teil von
SNL Energy Daily Gas Report, 2021
Ort / Verlag
Charlottesville: SNL Financial LC
Erscheinungsjahr
2021
Link zum Volltext
Quelle
Alma/SFX Local Collection
Beschreibungen/Notizen
The U.S. Interior Department recommended raising the royalty rates for oil and gas leases on federal lands and waters while also limiting the number of acres and offshore blocks available to lease and drill on, according to a report released Nov. 26. "Moving to a leasing model where smaller areas are offered according to a number of criteria — including environmental protection, subsistence use needs, resource potential and financial considerations — will help ensure that American taxpayers are receiving a fair return for offshore oil and gas resources," the report said. Industry critics contend that overhauling the leasing program will hurt U.S. energy security and oil production, prop up foreign adversaries, cost thousands of American jobs, and create winners and losers within the U.S. by harming oil-producing states with more federal lands and waters.