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Oil And Gas Land For Sale

Oil And Gas Land For Sale – President Biden has said he is considering a gas tax break and will meet with oil and gas company leaders amid high gas prices.

Oil and gas producers in New Mexico’s Permian Basin will have to wait another week to lease more acreage for drilling after Thursday’s plan to sell public land to the oil and gas industry was pushed back to June 30.

Oil And Gas Land For Sale

Oil And Gas Land For Sale

It was the second delay this month as federal land managers said they needed more time to conduct an adequate environmental review of the sale, scheduled for June 16.

Biden Increases Oil Royalty Rate And Scales Back Lease Sales On Federal Lands

Sales are held as part of public land leases for 10 years or as long as oil or gas production continues.

The delay comes after the sale was suspended for more than a year after President Joe Biden took office in January 2021 and the Interior Department sought to reform its energy policy after his administration halted new federal oil and gas leases.

That hiatus was lifted last year by a federal judge in Louisiana, who filed an injunction citing economic damage the hiatus has done to energy-producing states and ordered the Bureau of Land Management — and an arm of the DOI — to resume the lease.

Last fall, the department released its findings amid a moratorium, calling for stronger environmental reviews and higher royalty rates that energy companies pay for operating on leased land.

Energy, Oil & Gas

The DOI had planned to temporarily introduce higher rates for new leases, but they have been repeatedly delayed, drawing criticism from the industry in New Mexico and several western states.

In its latest announcement about the schedule change, the BLM said a full analysis of the environmental impacts of oil and gas production on the land proposed for sale required the schedule adjustment: about 500 acres in Lee and Chavez counties, the busiest oil field. In the nation in the Permian Basin.

This was required, the BLM argued, under the National Environmental Policy Act (NEPA), a major federal law that regulates how the government uses public lands for a wide range of its activities.

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“The date of this sale has been pushed back slightly to allow time to complete the analyzes required under the National Environmental Policy Act and resolve objections,” the BLM said in a statement.

Biden Plans To Open More Public Land To Drilling

More than half of New Mexico’s oil and gas operations occur on federal lands, and the state is the nation’s second-largest producer of crude oil, records show.

Revenue from that industry accounts for more than a third of the state’s budget, and critics of the Biden administration have argued that the state has been disproportionately affected by the federal ban.

Neighboring Texas, which shares the Permian Basin with New Mexico, mostly uses private land for fossil fuel development, which is not affected by the federal law change.

President Joe Biden, who has recently focused on increasing oil production to offset rising gasoline costs, turned his attention to climate change Friday when he convened a virtual meeting of some of the world’s largest economies. (June 17)

Reasons Why The United States Can’t Drill Its Way To Energy Independence

Kathleen Sgama, president of the Western Energy Alliance, said New Mexico is not the only oil-producing state to see economic hardship as a result of Biden’s environmental policies.

The latest delay in lease sales also delayed sales in Wyoming and Colorado, and Sgama argued that Biden’s policies not only hurt the state’s economy, but also increased energy prices and hurt consumers across America.

Nationally, gasoline prices hit a record high of about $5.02 a gallon on June 14, with many arguing that federal policies had hampered U.S. energy production.

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“From day one, President Biden has pursued a climate change agenda aimed at limiting America’s production and consumption of oil and natural gas,” Sgama said Tuesday at a hearing hosted by U.S. Rep. Andy Biggs (R-AZ).

Oil & Gas

“The president can help reduce inflation by rolling back these policies and stimulating American manufacturing.” However, we have seen some significant signs that, aside from the rhetoric, a change is in the cards.”

She said that while the lease sale was planned for this month, the Biden administration has already shown it does not support oil and gas, pushing for tax breaks for renewable energy and increasing demands on fossil fuel producers.

Sgamma pointed to an 80 percent reduction in sales nationwide, originally planned for 2021, a cut announced after a revised analysis by the DOI that reduced the total land for sale from 733,000 hectares to 144,000 hectares. .

She said it was a 50 percent increase in costs related to the temporarily increased royalty rates after the land cuts.

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“The administration has shown that it is not serious about increasing production, reducing energy prices and controlling inflation,” Sgama said.

The study by Public Citizen, an economic nonprofit advocacy group that is a frequent critic of oil and gas companies, argues that rates should be raised to give U.S. taxpayers a “fair share” of oil and gas revenues on public lands.

The report found that the current royalty rate of about 12.5 percent paid on the price of production has allowed fossil fuel producers to make $5.8 billion in profits since 2013 that would have been available to the public if the rate were proposed to increase to 18.75 percent. The Biden administration. .

Oil And Gas Land For Sale

That rate will be used during future sales, but it cannot be permanent because the federal government has not begun the rulemaking process to set that rate permanently.

Natural Gas Processing

About half of the royalties paid by the industry go back to oil-producing states, records show, and Public Citizen Research Director Alan Ziebel said those states and the public should benefit the most from increased demand for the recovery-related fuel. COVID-19. – 19 Epidemics.

“As gas prices rise at the pump, these oil and gas drillers aren’t just squeezing drivers, they’re also ripping off taxpayers,” said Alan Ziebel, director of research at Public Citizen. “In a year of record oil profits and inflation, the oil and gas industry is enjoying unprecedented tax breaks, subsidies and rebates.

“At the very least, these companies should pay a fair price for the resources they extract from public lands and be forced to cover the costs of environmental cleanup at no additional cost to taxpayers.” On Jan. 27, President Joseph Biden planted a continent — a “not for sale” sign — on public lands and waters managed by the federal government. In the executive order — part of a broader package of orders focused on climate change — Biden directed Interior Secretary nominee Deb Holland to review the federal oil and gas leasing system and halt the sale of development rights to private companies, at least for now. .

The move upsets the bipartisan status quo of selling off vast swathes of the western United States to fossil fuel companies. Currently, those companies hold leases on more than 26 million acres, more than half of which have yet to be drilled. (About 10% of that unused land was either auctioned off at a minimum bid of $2 per acre or sold at auction by the Trump administration for even less, according to Bureau of Land Management data compiled by The Wilderness Society.)

Blm Foolish To Auction Off Nevada Land To Oil Gas Industry: Sophia Kirschenman

That means a break in new leases won’t stop drilling on federal lands. “We have a deep list of approved federal drilling permits, covering essentially all of our desired activities through the next president’s term,” said David Harris, executive vice president of Devon Energy Corp., a major lessee in New Mexico’s Permian Basin. In a call to investors in October. “The dirty little secret is that (the moratorium) doesn’t have a big impact on production,” said Eric Schlenker-Goodrich, executive director of the Western Environmental Law Center.

Still, the freeze on federal fossil fuel sales marks a major shift in policy. This sets the stage for a transition away from fossil fuel development, which has had major impacts on air pollution, water quality and wildlife in the western United States. accounting for more than a fifth of US carbon dioxide emissions. In the short term, however, it will hurt Western nations and workers who depend on the industry for income and employment.

The Wilderness Association’s Federal Use and Transparency Tool provides the latest spatial database for energy development by automating the collection of tabular data from the Bureau of Land Management’s LR2000 database and converting that information to spatial data by selecting a system for public land surveys. With this spatial database, the associated history of leases and actions can be queried and displayed. Due to incorrect formatting of the PLSS legal land description in the LR2000 database there is potential for boundary errors in this database that may not translate to actual parcels.

Oil And Gas Land For Sale

The moratorium on oil and gas leases cuts off an important source of income for western states. They won’t lose federal fossil fuel revenue entirely: If no new leases are sold, drilling under existing leases — and the accompanying royalties and other taxes — will continue. but

Biden Climate Orders Include Pause On Oil Leasing On Public Lands

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