FILE - In this April 24, 2015, file photo, pumpjacks work in a field near Lovington, N.M. President Joe Biden shut down oil and gas lease sales from the nation's vast public lands and waters in his first days in office, citing worries about climate change. Now his administration has to figure out what do with the multi-billion dollar program without crushing a significant sector of the U.S. economy, while fending off sharp criticism from congressional Republicans and the oil…
March 26, 2021
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Biden increases crude oil royalty rate, scales back leases
BILLINGS, Mont. (AP) — The Biden administration is sharply raising rates for royalties companies pay on oil and natural gas extracted from federal lands as it moves forward under court order with sales of public fossil fuel reserves in nine states, Interior Department officials said Friday.
In shift, oil industry group backs federal price on carbon
WASHINGTON (AP) — The oil and gas industry's top lobbying group on Thursday endorsed a federal price on carbon dioxide emissions that contribute to global warming, a reversal of longstanding policy that comes as the Biden administration has pledged dramatic steps to address climate change.