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UW Studies Impact of Federal Moratorium on Conventional Oil Fields

LARAMIE  The University of Wyoming’s Enhanced Oil Recovery Institute (EORI) has reviewed the impact of President Joe Biden’s temporary moratorium on new oil and gas leases on federal lands, finding significant potential impacts on Wyoming oil and gas production, access to existing and future reserves, as well as state revenue. EORI says its analysis of the federal lease moratorium on Wyoming’s conventional oil reserves is stark due to the fact that the federal government owns 68 percent of the federal minerals in the state. The federal lease moratorium will impact 75 percent of Wyoming’s legacy (conventional) fields and 60 percent of drillable land. This policy will restrict, or possibly prevent, access to 2.9 billion barrels of potentially recoverable oil reserves on federal lands and the associated $12.9 billion in tax revenue, according to the EORI report.

Study: Wyoming Loses Billions of Dollars Due to Drilling Ban

Written by Andrew-Rossi on March 8, 2021 Thanks to the University of Wyoming, there are hard numbers to back up the fears of how much the ongoing oil and gas moratorium will impact Wyoming’s economy. The University of Wyoming’s Enhanced Oil Recovery Institute is predicting a severe loss of oil revenue for the State of Wyoming. This is due directly to the moratorium on oil and gas drilling on federal lands imposed by the Biden Administration. President Joe Biden signed Executive Order 13990 in January. Under the order, all leases authorized by the Trump Administration are going to be reviewed to see how they conflict with new policies to counter climate change.

UW s EORI Studies Impact of Federal Moratorium on Legacy Oil Fields | News

March 4, 2021 The University of Wyoming’s Enhanced Oil Recovery Institute (EORI) has reviewed the impact of President Joe Biden’s temporary moratorium on new oil and gas leases on federal lands, finding significant potential impacts on Wyoming oil and gas production, access to existing and future reserves, as well as state revenue. EORI says its analysis of the federal lease moratorium on Wyoming’s conventional oil reserves is stark due to the fact that the federal government owns 68 percent of the federal minerals in the state. The federal lease moratorium will impact 75 percent of Wyoming’s legacy (conventional) fields and 60 percent of drillable land. This policy will restrict, or possibly prevent, access to 2.9 billion barrels of potentially recoverable oil reserves on federal lands and the associated $12.9 billion in tax revenue, according to the EORI report.

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