the staff of the Ridgewood blog
Ridgewood NJ, oil and gas companies operating on federal lands will face higher costs and stricter requirements under a final rule issued by the Biden administration on Friday.
The Interior Department’s rule mandates an increase in royalty rates for oil drilling to 16.67%, up from the previous rate of 12.5%. This adjustment, in line with the 2022 climate legislation passed by Congress, represents a significant shift after a century of unchanged rates. The federal rate had long lagged behind those set by many states and private landowners for drilling leases on non-federal lands.
While stopping short of banning new oil and gas leasing on federal lands, as advocated by numerous environmental groups and promised by President Biden during his 2020 campaign, the new rule aims to promote a more responsible leasing process. It seeks to ensure a fairer return to U.S. taxpayers and concentrates oil and gas drilling in areas deemed most viable for development, particularly those with existing infrastructure and high reserves potential.
Additionally, the rule raises the minimum leasing bond paid by energy companies to $150,000, a significant increase from the previous $10,000 established over six decades ago. This heightened bonding requirement aims to compel energy firms to fulfill their obligations regarding site cleanup after drilling operations conclude or when wells are abandoned.
Meanwhile ,the total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday, falling by 3. U.S. drillers saw a total loss of rigs this year of 5.
The total rig count fell by 3 to 617 this week, compared to 751 rigs this same time last year.
The number of oil rigs fell by 2 this week. Oil rigs now stand at 506–down by 84 compared to this time last year. The number of gas rigs fell by 1 this week to 109, a loss of 49 active gas rigs from this time last year. Miscellaneous rigs stayed the same at 2.
Meanwhile, U.S. crude oil production stayed the same for the fifth week in a row at an average of 13.1 million bpd for the week ending April 5—down 200,000 bpd from the all-time high of 13.3 million bpd.
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Dementia Case Crooked Joe Biden will do anything to push up the price of fossil fuels to promote his failed agenda.. the green new deal.
The result of high oil prices allows countries that hate us and want to destroy Israel to get rich selling their oil to Russia and China… and use that money to fund terrorism.
How did that work out yesterday in Israel.
This is on Bidens watch… as he is a puppet in Obamas 3rd term
Thanks my comments the same!
The only good thing about high gas prices is that it will hopefully sink Bidens election unless he cheats AGAIN
So that’s what’s going to do it? Gas prices? I’m not saying you’re wrong. I just think it’s funny. Not his being a serial plagiarist and liar his entire career; not his utterly creepy behavior towards women and children, and the whole showering with his daughter business; not his shady business dealings and influence peddling with his crackhead son; not his dementia, his incoherent babbling, and complete lack of awareness as to where he is and who is talking to … but gas prices. The proverbial straw for Americans will be gas prices. If that’s it, Americans deserve the guy, to be honest.
And in the words of the “big guy” himself: Not a joke, folks. I’m not joking.
“Unless he cheats again.” 60 court cases and I am still waiting for Trump and his supporters to bring some proof.
Just keep repeating his lies. Like the judge in the NY hush money case won’t allow Trump to attend little Baron’s graduation . . . except that the judge has yet to rule on that request.
I am so tired of lying.
There, I said it.
Little Baron is probably twice as tall as you.
And you’re not that tired of lying. You’ve got a couple more in you, I just know it.
Five words . . . sixty courts cases, zero evidence.
you mean the russian hoax perpetrated by hillary, the media, and the losers who signed that fake letter
you democrats have been exposed
Gee, all the people who pleaded guilty and served jail time would be shocked to hear it’s a hoax.
Wheres obamas birth certificate
why does he have a social security# previously issed to a person in CT
why are college records sealed
1. bc he was not born here
2. bc he was not born here
3. bc he attended columbia as a foreign student
GET IT NOW?
Get what? That Obama is an intelligence asset groomed from adolescence by the CIA? Duh. So what? Trust me, if Barry ever stepped out of line his special proclivities would be aired out for public consumption in a heartbeat. But again, so what? Most people probably wouldn’t care anyway.
All the business about stealing elections is just the drama to keep the little people occupied. The owners of the country don’t have to steal the country — they own it. Get it now?
“Where’s obamas birth certificate
why does he have a social security# previously issed to a person in CT
why are college records sealed
1. bc he was not born here
2. bc he was not born here
3. bc he attended columbia as a foreign student”
“Where’s obamas birth certificate
why does he have a social security# previously issed to a person in CT
why are college records sealed
1. bc he was not born here
2. bc he was not born here
3. bc he attended columbia as a foreign student”
Unfortunately for you, these have all been debunked. And, to repeat the prior poster, where is the evidence.
debunked by who?