(ConservativeInsider.org) – Right after taking office, President Joe Biden signed an executive order shutting down new energy leases on public lands. While this was advertised as an attempt to move the United States from fossil fuels to green energy, it did nothing to lessen gas prices. Recently, the Biden administration had the chance to make a huge impact by removing all its restrictions, but instead, it’s moving them forward with steep prices and a small number of sales.
On Friday, April 15, the US Department of the Interior (DOI) announced it was reforming onshore oil and gas leases. According to the press release, the Bureau of Land Management (BLM) will offer 173 parcels, adding up to around 144,000 acres. This marks an 80% reduction from the original potentially available acreage.
In addition, the DOI will raise the royalty rate from 12.5% to 18.75%. The agency said this was “to ensure fair return for the American taxpayer and on par with rates charged by states and private landowners.” Nick Short, the Communications Director for the Claremont Institute, shared a quote from Larry Behrens, the communications director for the energy non-profit Power the Future, on Twitter:
“This latest offering is an 80 percent reduction in available land coupled with a new oil tax thrown at producers to try and escape blame for soaring gas prices.” https://t.co/lcxGxDszmQ
— Nick Short (@PoliticalShort) April 18, 2022
The Biden administration managed to sneak in this lackluster announcement right before Easter weekend, likely hoping it would go unnoticed by many. However, as Americans face record-high prices at the pump, they certainly noticed this unhelpful announcement from the DOI that will not do anything to lower the price of domestic oil production.
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