"US hikes cost of #oil drilling on federal lands for 1st time in decades, a bid to generate more $ for taxpayers
Interior Department rule represents 1st comprehensive update to the federal oil & gas leasing program in more than 30 years. It will force oil companies to pay at least 10x more to drill on US lands — $150K up from $10K — + higher royalties...also aims to prevent taxpayers from footing the bill for cleanup of abandoned oil and gas wells."
@GottaLaff I’m sure oil and gas companies will moan about the price but it will make their decisions for leasing more strategic (not as many speculative leasing deals…a lot of leases never go into production) and when they do drill it’s not like $150k is going to be their top-line expense.