04.12.24

Hoeven Statement After BLM Finalizes Rule that Will Limit Oil & Gas Leasing, Drive Up Energy Production Costs on Federal Lands

BISMARCK, N.D. – Senator John Hoeven, a member of the Senate Energy and Natural Resources (ENR) Committee, today issued the following statement after the Biden administration issued a final rule to further limit Bureau of Land Management (BLM) oil and gas leasing and increase the cost of producing energy on federal lands. 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.

“This rule continues the Biden administration’s regulatory onslaught that is handcuffing our domestic energy producers, driving up energy costs and making our nation less safe,” said Hoeven. “In states like North Dakota with split-estate lands, the federal government controls significant surface acreage and mineral rights and this rule will limit the development of our abundant, taxpayer-owned oil and gas resources, increasing costs for producers and consumers. We’ll work to stop this rule and force President Biden to reverse course on his regulatory agenda so that we can take the handcuffs off our domestic energy producers.”

Hoeven helped introduce the Spur Permitting of Underdeveloped Resources (SPUR) Act, legislation sponsored by ENR Committee Ranking Member John Barrasso, which includes provisions to overturn the Biden administration’s fee increases on the development of federal energy resources.

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