US: Biden government announces plans to lease energy drilling rights

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The Biden government will offer drilling rights to federal lands to oil and gas companies in June. These rights concern at least eight states, according to relevant sales announcements published yesterday.

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The announcement came just days after the US Department of the Interior announced that it would resume sales of leased areas of energy exploitation in federal territories, for drilling oil and gas.

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The move runs counter to a campaign promise by President Joe Biden.

Biden suspended energy drilling auctions shortly after taking office last year, citing the need to study the value of the program to taxpayers and its impact on climate change.

Last June, however, a federal judge ordered the resumption of drilling leases, following a lawsuit filed by Republican-run states. The relevant contract sales were announced yesterday and will take place online for the whole of June, one year after the relevant court decision.

In its announcement, the US Department of the Interior stated that it will proceed with the sales, but with a drastic reduction of the available areas, but also more expensive exploitation rights for the oil and gas companies.

The U.S. Department of the Interior’s Office of Land Management (BLM) announced yesterday that it would offer 1,317.71 square kilometers to oil and gas companies in Wyoming, launching the largest planned sale of energy rights through the related outsourcing process.

The sale of the rights in Wyoming will take place on June 21 and 22 for more than 90% of the areas that will be offered in the mentioned month.

BLM has reduced the area of ​​land available for exploitation in Colorado, Utah, Montana and Nevada from the area it announced it was considering last year.

Leasing of energy rights is also planned for land packages in New Mexico, Oklahoma and North Dakota, according to the same land management office.

SOURCE: AMPE

Source: Capital

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