Hoeven: BLM Proposed Rule Will Further Limit Oil & Gas Leasing, Drive Up Energy Production Costs on Federal Lands
WASHINGTON – Senator John Hoeven today issued the following statement after the Biden administration issued a proposed rule to further limit Bureau of Land Management (BLM) oil and gas leasing and increase the cost of producing energy on federal lands. Specifically, the rule would impose new fees and increase existing bonding requirements, royalty rates and minimum bids, while restricting the lands available for leasing. This will discourage investment in new domestic energy production, increase our reliance on foreign imports and result in higher energy prices for U.S. consumers.
“The federal government controls significant surface acreage and mineral rights across the country, particularly in states like North Dakota with split-estate lands. The Biden administration’s continued regulatory onslaught against our energy industry not only threatens our economy and quality of life, it undermines our national security,” said Hoeven. “This new rule is more of the same, further limiting the development of our abundant, taxpayer-owned oil and gas resources, while increasing costs for producers, which affects the price of everything we consume. President Biden needs to reverse course and take the handcuffs off U.S. domestic energy production.”
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