Federal Permits

[mkarpoff]

When Biden was elected he put a 90 day moratorium on new permits for drilling on federal lands. I know your subscribers, including me, were concerned. Well, perhaps we can relax. I tripped over an article published by Barron's that said Devon has received 50 "new" permits to drill on federal land. I interpret new to imply the moratorium has been lifted. Do you have any info on that Dan?

[dan_s]

If all federal lands remain off limits, the price of gasoline will go to $5/gallon and the Republicans will blame it on Biden, so the moratorium will be lifted. Plus, those federal lands generate a lot of money for the U.S. Treasury.

IMO Team Biden did a lot of things in the first few months just to suck up to the Far Left Wackos. This is one of the dumbest.

[dan_s]

House panel advances plan to hike oil drilling fees . Roll Call .
A House panel voted a bill out of committee Wednesday that would raise the royalty fees oil and gas companies pay to operate on federal land. Petroleum and natural gas companies pay a 12.5 percent fee to the treasury on their revenue from onshore leases. That rate has not changed since it became law in 1920, and it is lower than the federal offshore rate of 18.75 percent. The legislation from Rep. Katie Porter, D-Calif., would raise the onshore rate to 18.75 percent. It was approved by the House Natural Resources Committee by a vote of 23-14 Wednesday evening.

[Fraser921]

Tax and spend, tax and spend