The Biden administration on Thursday took a first step toward reforming and “modernizing” the federal oil and gas leasing program.
The Interior Department’s proposed rule, which is now open to public comment, would significantly increase how much energy companies must pay to lease and drill on federal lands. It would also give the Bureau of Land Management greater authority to keep fossil fuel development away from sensitive ecosystems and cultural sites.
The new rule “provides a fair return to taxpayers, adequately accounts for environmental harms and discourages speculation by oil and gas companies,” Laura Daniel-Davis, principal deputy assistant Interior secretary for land and minerals management, said in a statement.
“The Department is committed to creating a more transparent, inclusive and just approach to leasing and permitting that serves the public interest while protecting natural and cultural resources on our public lands,” Daniel-Davis said.
The proposal would…
