Report: Joe Biden to Recommend Increasing Red Tape, Fees on Oil Industry

  • by:
  • Source: Breitbart
  • 11/26/2021
The U.S. Interior Department will release a delayed study from the summer about how to further strangle the American energy sector to fulfill Biden’s campaign promise to the far-left, Reuters reported:

Under the U.S. federal oil and gas leasing program, the Interior Department is required to hold regular auctions of federal land for the oil and gas drilling industry – an initiative intended to boost domestic energy self-sufficiency and raise money for public coffers.

One source said the report will discuss royalties and fees that drillers are required to pay for drilling on federal land, as well as non-competitive leasing – a controversial process where leases not sold at an auction can be sold directly to interested companies during the following two years.

About a quarter of the nation’s oil and gas comes from federal leases and the program raises billions of dollars for federal and state budgets.
ERIELL oil rig by WORKSITE Ltd. is licensed under Unsplash unsplash.com
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