Oil and gas companies would pay more to drill on public lands under new Biden rule

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 59%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Oil and gas companies would have to pay more to drill on public lands and satisfy stronger requirements to clean up old or abandoned wells under a new rule announced Thursday by the Biden administration.

Interior"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,″ she added.

The previous level was far too low to force companies to act and did not cover potential costs to reclaim a well, officials said. As a result, taxpayers frequently end up covering cleanup costs for abandoned or depleted wells if an operator refuses to do so or declares bankruptcy. Hundreds of thousands of “orphaned” oil and gas wells and abandoned coal and hardrock mines pose serious safety hazards, while causing ongoing environmental damage.

The BLM, an Interior Department agency, oversees more than 245 million acres of public lands, primarily in the West. But he and other advocates said Biden should keep his promise to end new drilling on public lands. “In addition to making polluters pay with these fiscal reforms, it’s time for the Biden administration to align our federal fossil fuel program with America’s transition to a clean energy economy,'' said Mattea Mrkusic of Evergreen Action, another environmental group.

The moratorium drew sharp criticism from congressional Republicans and the oil industry, even as many environmentalists and Democrats urged Biden to make the leasing pause permanent.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 319. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil and gas companies would pay more to drill on public lands under new Biden ruleThe Biden administration is proposing new rules for the nation’s oil and gas leasing program to raise costs for energy companies to drill on public lands and strengthen requirements to clean up old wells where drilling is completed or abandoned
Source: WOKVNews - 🏆 247. / 63 Read more »

Oil and gas companies would pay more to drill on public lands under new Biden ruleEnergy companies would have to pay more to drill on public lands and satisfy stronger requirements to clean up old or abandoned wells under a new rule announced Thursday by the Biden administration.
Source: AKNewsNow - 🏆 460. / 53 Read more »

Oil and gas companies would pay more to drill on public lands under new Biden ruleThe Biden administration is proposing new rules for the nation’s oil and gas leasing program to raise costs for energy companies to drill on public lands and strengthen requirements to clean up old wells where drilling is completed or abandoned.
Source: ksatnews - 🏆 442. / 53 Read more »