 Energy & Environment |
Energy & Environment |
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Biden officials propose raising cost to drill on public lands
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Interior officials say the proposed rule would prevent tax-payers from being on the hook to clean up oil and gas wells and implement reforms from the Inflation Reduction Act. |
The draft rule from the Bureau of Land Management (BLM) seeks to "prevent that burden from falling on the taxpayer in future years" by raising required bond amounts, according to a press release. It would also implement fee hikes that were included in Democrats' climate, tax and health care bill passed last year. Specifically, it would: - Raise royalties on oil that's extracted, from 12.5 percent to 16.67 percent.
- Hike fees to rent land that's not being produced on, from previously either $1.50 to $2 per acre to now $3 per acre during the first two years of the lease, $5 per acre for the next six years and $15 per acre after that.
- Boost minimum required lease bids, from $2 per acre to now $10 per acre.
The rule also proposes to prioritize oil and gas development on public lands where there's existing infrastructure or significant potential for oil and gas production and that is not near "important wildlife habitat or cultural sites," according to the press release. BLM Director Tracy Stone-Manning described the changes as a win on climate change and a way to get fair returns for taxpayers because the lands are government-owned. "This proposal to update BLM's oil and gas program aims to ensure fairness to the taxpayer and balanced, responsible development as we continue to transition to a clean energy economy," she said in a statement. Read more in a full report at TheHill.com. |
Welcome to The Hill's Energy & Environment newsletter, we're Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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How policy will affect the energy and environment sectors now and in the future: |
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Former President Trump says in a new campaign video that if he returns to the White House, he would end President Biden's "Green New Deal atrocities" on his first day, despite the measure never being signed into law. |
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| The Senate Thursday confirmed David Uhlmann, President Biden's nominee for the Environmental Protection Agency's (EPA) enforcement chief, in a 53-46 vote more than two years after his initial nomination. |
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Kentucky Gov. Andy Beshear (D) declared a state of emergency as historic amounts of rainfall spurred widespread flooding throughout the state Wednesday.
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Branch out with a different read on The Hill: |
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A tornado ripped through a North Carolina city Wednesday, damaging a Pfizer pharmaceutical plant, several residential homes and roadways. |
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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Jet stream pattern and 'heat domes' fuel soaring temperatures around globe (The Financial Times)
Can U.S. power grids handle the surge in energy use as temperatures climb? (NPR) China's Addiction to Coal Deepens in the Heat (The New York Times)
Investigation: Texas failed to crack down on gas after grid crisis (E&E News)
- Vegan diet massively cuts environmental damage, study shows (The Guardian)
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Upcoming news themes and events we're watching: |
- The Interior Department announced Thursday that it will hold its first-ever Gulf of Mexico offshore wind lease sale on Aug. 29. The area up for lease will have the potential to produce up to 3.7 gigawatts of power — enough to run nearly 1.3 million homes, the department said.
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Clean Energy Permitting Reform: The Path Ahead — Wednesday, July 26, 2023, 8-10 a.m. ET | National Press Club |
Join The Hill next week as we convene lawmakers, clean energy experts and executives to discuss renewable energy infrastructure deployment, reaching clean energy goals and the outlook for greater reforms.
Guests include: Sen. John Hickenlooper (D-Colo.), member of the Senate Energy & Natural Resources Committee; Maria Robinson, director, Grid Deployment Office, U.S. Department of Energy; Rep. John Curtis (R-Utah), vice chair of the Energy, Climate & Grid Security Subcommittee and vice chair of the Federal Lands Subcommittee; and more. RSVP here. |
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Two key stories on The Hill right now: |
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Republicans Thursday released a copy of an unverified tip to the FBI alleging a scheme to bribe President Biden — a tip that has not been corroborated but is nonetheless fueling GOP investigations into the Biden family. Read more |
| Prosecutors appear to be eyeing one unexpected charge as the Justice Department winds down its investigation into former President Trump's effort to stay in power after the 2020 election. Read more |
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Op-eds related to energy & environment submitted to The Hill: |
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You're all caught up. See you tomorrow! |
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