Department of Interior Cleared to Move Forward with Permits for Oil and Gas on Federal Land
Following a court ruling, the department said they can now move forward with planning for oil and gas leases on federal land after an appeals court struck down a previous decision by a lower court. However, the current administration’s “social cost” calculator still provides challenges for operators by analyzing the climate consequences and costs drilling activity will have on society at a time when energy prices are skyrocketing.
The American Petroleum Institute heralded the move: “At a time when the administration and allies around the world are calling for more American energy, we welcome the Department of the Interior’s announcement today and urge the administration to hold onshore lease sales under the Mineral Leasing Act with sufficient acreage and fair terms,” said American Petroleum Institute senior vice president of policy, economics and regulatory affairs Frank Macchiarola.