The Biden administration raised the royalty rates that fossil fuel companies pay the government in order to drill and mine on public lands, the first time since 1920 that those fees have increased. And it raised by tenfold the size of bonds that companies must secure before they can drill, the first time they went […]
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The Biden administration on Friday made it more expensive for fossil fuel companies to pull oil, gas and coal from public lands, raising royalty rates for the first time in 100 years in a bid to end bargain basement fees enjoyed by one of the country’s most profitable industries. The government also increased more than […]
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