04-13-2024, 01:36 PM
Biden's energy policies have already caused inflation to spike (just a F.Y.I. the price of gasoline is not included in inflation numbers). The price of gasoline is up over 50% Nationally since Biden took office. His solution, add costs to drilling on public land, not a little, but from $10,000 to $150,000.
Read the article, Biden's inflation reduction act also is taking more of the profits from oil companies. Those of you crying big oil is over charging for profit, keep in mind the government is making money off big oil profits (in addition to federal income taxes).
If gas prices continue to go up, keep it top of mind, one more Biden policy to hurt the cost of a gallon of gasoline.
https://www.foxbusiness.com/economy/energy-prices-soar-biden-administration-jacks-costs-drill-public-lands
As energy prices soar, Biden administration jacks up costs to drill on public lands
The bonds companies must secure before they start drilling has now increased tenfold – from $10,000 to $150,000
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 royalty rate the government is paid will jump from 12.5% of revenue to 16.67%.
The move also increased the amount of the bonds that companies must secure before they start drilling tenfold – from a bond minimum of $10,000 set in 1960 to $150,000.
Several of the provisions in the rule were already codified by the Inflation Reduction Act, such as raising the rent the government charges to oil companies for using its land and increasing the government’s share of the profits from that oil.
Read the article, Biden's inflation reduction act also is taking more of the profits from oil companies. Those of you crying big oil is over charging for profit, keep in mind the government is making money off big oil profits (in addition to federal income taxes).
If gas prices continue to go up, keep it top of mind, one more Biden policy to hurt the cost of a gallon of gasoline.
https://www.foxbusiness.com/economy/energy-prices-soar-biden-administration-jacks-costs-drill-public-lands
As energy prices soar, Biden administration jacks up costs to drill on public lands
The bonds companies must secure before they start drilling has now increased tenfold – from $10,000 to $150,000
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 royalty rate the government is paid will jump from 12.5% of revenue to 16.67%.
The move also increased the amount of the bonds that companies must secure before they start drilling tenfold – from a bond minimum of $10,000 set in 1960 to $150,000.
Several of the provisions in the rule were already codified by the Inflation Reduction Act, such as raising the rent the government charges to oil companies for using its land and increasing the government’s share of the profits from that oil.
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First 6 years BB - 41 wins and 54 losses with 1-1 playoff record with 2 teams Browns and Pats
