Biden resumes drilling on federal lands

USA

WASHINGTON, D.C., April 18, 2022 – The US will resume lease sales for oil and gas drilling on federal land, President Joe Biden announced on Friday.

The new plan will make around 583 square kilometres available for drilling, an 80% reduction from what was previously being evaluated for leasing.

The new contracts contain a royalty rate of 18.75%, a rise from the previously planned 12.5% rate.

The move is a break from the administration’s campaign pledges and is seen as a reaction against rising fuel prices in the country.

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