Index Investing News
Saturday, May 24, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

U.S. hikes royalty fees for drilling on federal lands for first time in a century

by Index Investing News
April 14, 2024
in Markets
Reading Time: 2 mins read
A A
0
Home Markets
Share on FacebookShare on Twitter


imaginima/E+ via Getty Images

The Biden administration said Friday it is broadly increasing the costs for oil and gas companies to drill on federal lands, including bonding requirements, royalty rates and minimum bids, ahead of the presidential election in November.

The U.S. Department of Interior’s Bureau of Land Management said in its final rule that its federal oil and gas leases will require a minimum bond of $150K and a minimum statewide bond of $500K, compared with a previous $10K lease bond; bond amounts also will be adjusted for inflation every 10 years.

BLM said royalty rates for leases will rise from 12.5% to 16.67%, in line with a change first stipulated in the Inflation Reduction Act, the minimum amount companies can bid at oil and gas auctions will increase to $10/acre from $2/acre, and the rental rate for a 10-year lease will double to $3/acre for the first two years and eventually rise to $15/acre; the fees can be adjusted for inflation after 10 years.

The new rule raises the royalties drillers must pay to the government for the first time since 1920 and the bonds needed to cover the cost of clean-ups for the first time since 1960.

While the new regulations apply only to public lands, which comprise less than 10% of total U.S. production, the announcement drew swift condemnation from energy groups and Republican lawmakers who slammed President Biden for “doing all he can to make it economically impossible to produce energy on federal lands.”

Several environmental groups praised the move, although Friends of the Earth criticized a failure to address the climate impact of fuel extraction on public lands.

Also, Bloomberg reported this week that the Biden administration is set to issue a sweeping plan to block oil and gas development across much of Alaska’s North Slope.

Earlier this week, the Environmental Protection Agency issued a final rule setting limits on toxic pollution from chemical plants and stripping cancer-causing chemicals from drinking water.

ETFs: (NYSEARCA:XLE), (XOP), (VDE), (OIH), (XES), (IEZ)



Source link

Tags: centurydrillingfederalFeeshikeslandsRoyaltyTime
ShareTweetShareShare
Previous Post

Iran struck ‘important’ Israeli military targets – IRGC (VIDEOS) — RT World News

Next Post

These Are Asia’s Richest Billionaires – FREEDOMBUNKER

Related Posts

Costco (COST) all set to report Q3 2025 earnings. Right here’s what to anticipate

Costco (COST) all set to report Q3 2025 earnings. Right here’s what to anticipate

by Index Investing News
May 23, 2025
0

Costco Wholesale Company (NASDAQ: COST) has delivered a formidable efficiency within the first half of FY25, aided by robust membership...

Goal Company (TGT): A take a look at how the retailer is navigating a troublesome atmosphere

Goal Company (TGT): A take a look at how the retailer is navigating a troublesome atmosphere

by Index Investing News
May 24, 2025
0

Shares of Goal Company (NYSE: TGT) stayed pink on Friday. The inventory has dropped 23% over the previous three months....

The Massive Lovely Bitcoin Breakout

The Massive Lovely Bitcoin Breakout

by Index Investing News
May 23, 2025
0

Bitcoin (BTC) broke $111,000 yesterday, an all-time excessive. Supply: coingecko.com And since everybody is aware of I’m a crypto bull,...

Goolsbee says Fed has to attend longer earlier than transferring charges as a result of commerce coverage uncertainty

Goolsbee says Fed has to attend longer earlier than transferring charges as a result of commerce coverage uncertainty

by Index Investing News
May 24, 2025
0

Chicago Federal Reserve President Austan Goolsbee stated Friday that President Donald Trump's newest tariff threats have difficult coverage and certain...

Nuclear shares rally on report Trump to signal orders to assist business

Nuclear shares rally on report Trump to signal orders to assist business

by Index Investing News
May 23, 2025
0

Cooling towers are seen on the nuclear-powered Vogtle Electrical Producing Plant in Waynesboro, Georgia, on Aug. 13, 2024.Megan Varner |...

Next Post
These Are Asia’s Richest Billionaires – FREEDOMBUNKER

These Are Asia’s Richest Billionaires – FREEDOMBUNKER

Why Braves should be able to take injury update in stride

Why Braves should be able to take injury update in stride

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

[Bloomberg] Motley Idiot Inventory-Decide Hacker Charged With Securities Fraud : shares

[Bloomberg] Motley Idiot Inventory-Decide Hacker Charged With Securities Fraud : shares

May 3, 2022
Ought to we enable bribery? – Econlib

Ought to we enable bribery? – Econlib

February 13, 2025
Housing Supply and Quantity Supplied, Redux

Housing Supply and Quantity Supplied, Redux

March 1, 2024
Shiba Inu Staff Member Says Main Replace Is Coming – Right here’s What We Know

Shiba Inu Staff Member Says Main Replace Is Coming – Right here’s What We Know

July 12, 2024
Cardinal Well being, Inc. (CAH) Citi’s 2024 International Healthcare Convention (Transcript)

Cardinal Well being, Inc. (CAH) Citi’s 2024 International Healthcare Convention (Transcript)

December 3, 2024
RHOC’s Braunwyn Windham-Burke’s Kids Call Her Out As An ‘Abuser, Liar, And Manipulator’! WHOA!

RHOC’s Braunwyn Windham-Burke’s Kids Call Her Out As An ‘Abuser, Liar, And Manipulator’! WHOA!

March 1, 2024
What the U.S. Army’s ‘Overwhelming Drive’ Means for the Center East

What the U.S. Army’s ‘Overwhelming Drive’ Means for the Center East

September 6, 2024
Madison Sq. Backyard: ‘Kamala broke it, I will repair it’: Trump leads Madison Sq. Backyard rally as Election Day looms

Madison Sq. Backyard: ‘Kamala broke it, I will repair it’: Trump leads Madison Sq. Backyard rally as Election Day looms

October 28, 2024
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In