As energy prices soar, Biden administration jacks up costs to drill on public lands

The Biden administration on Friday finalized a rule that will make it more expensive for oil and gas companies to drill on public lands, despite soaring energy prices and inflation still trending upwards.The Department of the Interior announced it has revised the Bureau of Land Management’s (BLM) oil and gas leasing regulations, which will raise royalty rates for the first time in 100 years and update the federal onshore oil and gas leasing framework. Under the new rule, the minimum royalt