Any doubt that the Biden Administration plans to slowly regulate fossil fuels out of existence vanished this week. First came the, but perhaps more significant is the 60-day freeze on new leases on federal lands and bureaucratic permitting. The pause could soon become a long-term ban.
Federal lands account for about 22% of U.S. oil production, 12% of natural gas and 40% of coal. When the Obama Administration slowed oil and gas permitting on federal land, drilling and exploration shifted to private land. The Biden Administration may shut that down too. Start with the 60-day suspension on new leases on federal land. Producers in older oil and gas fields won’t be significantly affected, and many have already scaled back investment in places like California and Louisiana while pouring more into shale. But shale fracking occurs in large part on federal land in western states, and it continually requires new leases and investment.
Federal land accounts for 51.9% of New Mexico’s oil production and 66.8% of its natural gas, as well as a sizable share of gas extraction in Colorado , Utah and Wyoming . A federal leasing ban would cost some 18,000 jobs in Colorado, 33,000 in Wyoming and 62,000 in New Mexico by 2022, according to the American Petroleum Institute.
States would also lose hundreds of millions of dollars of mineral royalties that are shared by the feds. Oil and gas revenue accounts for 20% of New Mexico’s budget. Downstream suppliers like fracking sand mines in Wisconsin and steel manufacturers in Pennsylvania would also be hit.
opinion Seems as though America may be in a bit of trouble with this new administration driving things.
opinion This is what you’re fear-mongering about? A couple weeks ago far-right activists laid siege to the Capitol and killed a police officer.
opinion Crushing the middle class, one bill at a time.
opinion And the American consumer will pay dearly, jobs & livelihoods will be lost.
opinion And let us not forget - lots of people are very happy about this. Hard to believe when you’ve been making money off of fossil fuels, but trust me, it’s true😁
opinion *formerly run by climate deniers
opinion God bless the Wall Street Journal and All of your family's I ask for Gods Protection over all of you in the Mighty name of Jesus Amen
opinion Good grief, these opinion pieces are really wacky
opinion good
opinion This is what we voted for.
opinion I would certainly hope so
opinion WE WISH YOU A LOT OF SUCCESS
opinion Some people are truly opposed to all accountability. It hurts to learn that you are the swamp and Trump’s actions finally drained you.
opinion About damn time
opinion Good. Oil execs have been running it too long and ignoring the environment. Embrace the green or we all die.
opinion Why are my gas prices going up?!?!
opinion And another shitty opinion. 🤣
opinion Oh how the turn tables
opinion Nice!
opinion Huuhh if opinion thinks they are working on news then activists can run federal oil and gas permitting, right?
opinion Someone remind the old dope that our economy is fossil fuel based.
opinion Good
opinion “Environmental justice” 🙄
opinion Bring on the electric cars!
opinion Caveat Emptor. We're fucked.
opinion Good Deal, they've had free reign 4 way 2 long, we need 2 Save America, along with all of us!
opinion It's about time there are some folks in the administration who give a damn about climate change.
opinion Interesting that the really angry posts have either recently joined, follow very few peopl and have no followers. Its almost like they are a bot farm
opinion “Climate activists” = people who want to leave an intact planet to their grandkids.
opinion Guess that means more people at the unemployment line. 🤣 Nice job!
opinion Get ready for $6 a gallon in 90 days.
opinion It’s about time ... fossil fuel oligarchs have dominated for 100+ years... time for innovation and competition
opinion Climate Activists? Who is really controlling the Biden administration? So much for our energy independence . It was nice while it lasted
opinion Good.
opinion
opinion
opinion A whole industry is going to get destroyed. Jobs will be lost. Gas prices will hit $4+ again.
opinion Prepare for extremely high gas prices to help hurt Americans even more. Thanks POTUS shitforbrains
opinion Good
opinion
opinion Clean air and water, and no more earthquakes in Oklahoma.
opinion A Hollywood Executive Producer Governed USA...had Nuclear Codes by tweets last 4years...Suck it Up
opinion good
opinion 'Opinion: Global Pollution Epidemic experts lead necessary fight to save planet in Biden administration' FYH
opinion Electric car batteries in the earth. Clean
opinion Elections have consequences.
opinion It's a good thing.
opinion Good
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.