The Associated Press
The report completes a review ordered in January by President Joe Biden, who directed a pause in federal oil and gas lease sales in his first days in office, citing worries about climate change. The report also said the government should consider raising bond payments that energy companies must set aside for future cleanup before they drill new wells. Bond rates have not been increased in decades, the report said.
Energy companies including Shell, BP, Chevron and ExxonMobil offered a combined $192 million for offshore drilling rights in the Gulf, highlighting the hurdles Biden faces to reach climate goals dependent on deep cuts in fossil fuel emissions. Emissions from burning and extracting fossil fuels from public lands and waters account for about a quarter of U.S. carbon dioxide emissions, according to the U.S. Geological Survey.
The American Petroleum Institute, the top lobbying group for the oil industry, said Interior was proposing to"increase costs on American energy development with no clear roadmap for the future of federal leasing.”“This report makes an incredibly compelling case both economically and ecologically for bringing the federal oil and gas leasing program into the 21st century,” said Collin O’Mara, president and CEO of the National Wildlife Federation.
I wonder who will front the bill of raising costs for energy companies? Sure as shit not the energy company
Why isn't the media talking about the deal that Biden's son has with China and electric vehicles they have the monopoly That's why Biden wants to do away with oil OK. China has promised to him he would be really rich
Yeah Biden's son has a deal with China and the electric cars electric cars that's why he wants to do away with everything so they can get rich they want all the oil To go away
I Biden hadn’t been vindictive or followed Obama lead we wouldn’t be in this fu..ing mess paying higher gas prices, POTUS takes Obama’s decide on the pipeline and not ask for forgiveness later tax, then blame water shortages on non problem now big rip off h20
So by extension raise fuel costs for the rest of us too
We could be the largest energy producing nation in the world. Instead we beg opec to produce more and tap reserves that do nothing for the end user. At these prices the rig counts should be way up but they can’t invest in production because of Washington policy. If it was about
Sounds like another tax on Commuters...5.00 gas by May.
Lmao, wasn't he and other politicians just crying about how they aren't producing enough?
Why are we exporting our natural resources?
After years of deliberation, with the black foot. Looks like they don't want the Keystone pipeline going through their land. Petitions all the correct paperwork, the pigs lost. Go sport a rebel flag or a cubs hat.
Practical solutions
Well this will help ease the pain at the pump. Sad.
this is terrible news
alright. Marry Christmas