The Biden war on American energy just doesn’t stop. Biden’s first order as president was to kill the Keystone XL pipeline. Just yesterday we learned:
The Biden administration has proposed new rules that would make oil and gas leasing on public lands more costly for developers, but which it said would “ensure fair return to taxpayers.” The proposed rules, unveiled yesterday by the Department of the Interior and Bureau of Land Management, revise a number of financial requirements for onshore fossil fuel leasing including bonding requirements, royalty rates, and minimum bids. Under the proposal, the lease bond oil and gas developers are required to pay will be hiked from $10,000 to $150,000 and statewide from $25,000 to $500,000, the DOI said.
These drilling fees will rise 10 to 20-fold!! Our oil and gas industry sources tell us this will kill new production on federal lands. This comes after federal leases have already fallen dramatically as the Wall Street Journal reported late last year:
Who is writing these rules? The OPEC ministers? Vladimir Putin?