Biden Administration Aims to Overhaul Oil and Gas Leasing
The report seeks a middle ground that would continue the multi billion-dollar leasing program while reforming it to end what many officials consider overly favorable terms for the industry.
Edited by Chris Pasion
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The Biden administration has recommended an overhaul of the nation’s oil and gas leasing program which would limit areas available for energy development and raise costs for oil and gas companies to drill on public land and water. Officials said the report would lead to a more responsible leasing process that provides a better return to U.S. taxpayers.
According to an article by Power Engineering, the report completes a review ordered President Biden in January. The new report seeks a middle ground that would continue the multi billion-dollar leasing program while reforming it to end what many officials consider overly favorable terms for the industry.
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