STATEMENT: Department of Interior updates oil & gas leasing regulations

WASHINGTON – On Friday, the Department of Interior announced updated regulations for oil and gas leasing on federal lands. Companies will be required to pay a minimum bond of $150,000 for each lease, an increase from the $10,000 rate that was set in 1960. The new regulations also increase royalty rates and minimum bids, ensuring that there are more resources available for cleaning up the inevitable environmental damage from drilling and fracking operations.

The rule also prioritizes offering leases in locations with existing oil and gas infrastructure. This step aims to reduce the inclusion of important wildlife habitats and cultural sites in lease sales.

In response, Environment America Public Lands Campaign Director Ellen Montgomery issued the following statement: 

“We commend Secretary Haaland and her team at the Department of Interior for taking these much-needed steps to reform oil and gas leasing. Ultimately, we should strive for a world where we don’t need to drill on public lands at all, and our government can be focused on managing our natural resources for conservation, recreation and clean energy. 

“While we are working toward that cleaner, greener future, these reforms are essential to ensure that the American public is not subsidizing activities that harm our environment, or footing the bill for toxic clean-up operations on our public lands. ”