The Department of the Interior today announced new steps to revise the Bureau of Land Management's oil and gas leasing regulations, which would ensure a balanced approach to development, provide a fair return to taxpayers and ensure that drilling does not conflict with protection of important wildlife habitat or cultural sites. The proposed rule would revise outdated fiscal terms of the onshore federal oil and gas leasing program - including for bonding requirements, royalty rates, and minimum bids - which would increase returns to the public and disincentive speculators or less responsible actors.

https://www.miragenews.com/interior-dept-modernizes-public-land-oil-gas-1051054/

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