Officials Seek To Boost Oil & Gas Drilling Costs Amid Climate Review

Key Democrats and Interior Department (DOI) officials are signaling they will push to raise royalty rates and other drilling costs on public lands, as part of the Biden administration’s broad review of the climate change and budgetary effects of the federal oil and gas program. During an April 27 hearing before the Senate Energy & Natural Resources (ENR) Committee, Democratic senators suggested a series of measures that could have the effect of increasing the cost of oil and gas drilling...