April 16, 2024
The BLM's new oil and gas leasing rules has effectuated new oil and gas leasing rules for the first time since 1988.
The new rules adjust bond amounts for the first time since 1966, increase royalty rates for the first time in over a century (leasing has only been in place for a century). Bond rates will go from $10,000 to $150,000 and state-wide bonding requirement for operators with more than from $25,000 to $500,000.
Governor Gordon criticizes oil and gas rule that raises costs to producers
CHEYENNE, Wyo. –Governor Mark Gordon is criticizing an announcement from the Department of Interior last week that will increase the costs to oil and gas companies seeking to drill on federal lands. The Governor used the following statement:
“If there was any doubt, it could not be more clear now that the Department of Interior has lost its way. Within a day of announcing its renewable energy rule designed to promote the equivalent of a modern-day gold rush of development for renewables by reducing fees and rents on federal lands by 80%, Interior issued an oil and gas rule increasing costs to Wyoming’s industry by 1400%.
America surely needs more energy, including from renewable sources. What our country does not need are policies that greatly reduce the return to our nation’s taxpayers while simultaneously increasing the impacts and burdens on states and communities. We don’t need policies that increase the costs to consumers while also reducing reliability, or rules that sharpen the threat of industrializing our open spaces and crucial wildlife habitat without recognizing the importance of balance in our energy portfolio. These policies should seem misguided to most Americans of every stripe who love our country. Instead of experience and practicality, DOI has doubled down on bias, dogma, and politics. America is suffering as a result.
It is time we get back to common-sense energy policy. I will continue to fight against federal policies that are short-sighted and antagonistic to Wyoming’s industries, our workers, and our way of life. We need to build a realistic, all-of-the-above energy strategy that correctly plans a future of reliable and dispatchable power and properly accounts for – and balances – the costs and impacts of all energy sources.”
April 19, 2024
Tensions in the Middle East have jumped the price of oil back up.
April 27, 2024
Ur Energy will reopen It's in situ uranium mine and processing plant in Shirley Basin in 2026.
The UAW has entered into a tentative deal with Daimler.
Wyoming is suing the Federal government over a methane rule.
Wyoming Sues Biden Administration Over Costly and Burdensome Methane Rule
CHEYENNE, Wyo. – Wyoming has joined the states of North Dakota, Montana and Texas in suing the U.S. Department of Interior and Bureau of Land Management (BLM) over a new rule that undermines existing state regulatory programs and harms Wyoming oil and natural gas producers.
The suit was filed this week in the U.S. District Court for the District of North Dakota. The rule – commonly known as the “methane waste prevention rule” and released last month – is an attempt by the Department of Interior to re-introduce a similar rule adopted by the Obama Administration in 2016. That rule was previously blocked by a Wyoming federal court.
The new rule requires oil and gas companies to pay royalties on flared gas, driving up costs for producers and resulting in increased costs to consumers, the Governor said.
“This rule is yet another example of the Biden Administration attempting to use rulemaking to undermine state authority and suffocate the oil and gas industry,” Governor Gordon said. “We will continue to defend Wyoming’s interests in court whenever they are under attack by the federal government.”
Governor Gordon has previously pointed out Wyoming is a national leader in regulating methane gas, with the Wyoming Department of Environmental Quality and Wyoming Oil and Gas Conservation Commission working cooperatively with oil and gas producers to reduce emissions. The states’ complaint explains that the new rule conflicts with state regulations and in certain instances, creates less stringent standards.
The states’ complaint may be found here.
In a major action, a new EPA rule may actually end coal-fired power plants by 2032. Tom Lubnau on that matter:
Tom Lubnau: EPA Increases Wyoming Industry Political Risk, Again
That would be an epic level change in electrical generation in the United States, although its something we've seen coming for a long time:
Coal: Understanding the time line of an industry
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