Biden Administration Proposes Rule to Raise Costs of Drilling on Federal Lands

The Biden administration has proposed a rule to reform oil and gas leasing on federal lands.
The rule aims to increase royalties, fees, and bonding rates paid by energy companies to drill on public lands.
It also gives the Bureau of Land Management more authority to protect sensitive areas from drilling.
The proposed changes align with Biden's climate agenda and aim to ensure taxpayers aren't burdened with cleanup costs.
The oil and gas industry opposes the rule, while environmental groups support it but call for further restrictions on drilling.