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President Joe Biden's decision to reverse a series of Trump administration energy policies have harmed American consumers amid the Ukraine crisis.
In compliance with an injunction from the Western District of Louisiana, the Department of the Interior is taking action that reflects the balanced approach to energy development and management of our nation’s public lands called for in the agency’s November 2021 report on the Federal Oil and Gas Leasing Program.
Skyrocketing oil prices caused by Russia’s war on Ukraine and Biden’s war on hydrocarbons present the Gulf of Mexico E&P industry with a conflicting brew of circumstances.
The BLM noted that it is applying a first-ever increased royalty rate of 18.75 percent.
The Department of the Interior is taking action that reflects the balanced approach to energy development and management of the nation’s public lands called for in the agency’s November 2021 report on the Federal Oil and Gas Leasing Program. On April 18, the Bureau of Land Management will issue final environmental assessments and sale notices for upcoming oil and gas lease sales that reflect this strategic approach.