• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 7 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 4 hours Let’s Try This....
  • 4 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 33 mins New Aussie "big batteries"
  • 33 mins COVID 19 May Be Less Deadly Than Flu Study Finds
  • 2 hours China to Impose Dictatorship on Hong Kong
  • 55 mins Would bashing China solve all the problems of the United States
  • 18 mins Monetary and Fiscal Policies in Times of Large Debt:
  • 35 mins 60 mph electric mopeds
  • 23 hours Iran's first oil tanker has arrived near Venezuela
  • 1 day Nothing can shake AMLO’s fossil-fuel fixation
  • 1 day US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
Russia Considers Extending Oil Output Cuts Beyond June

Russia Considers Extending Oil Output Cuts Beyond June

Russia’s Energy Minister Alexander Novak…

This Oil Nation Sees Production Drop As COVID-19 Cases Spike

This Oil Nation Sees Production Drop As COVID-19 Cases Spike

Kazakhstan’s crude oil production has…

U.S. Energy Industry Eager To Start Drilling On Federal Land

The United States oil and gas industry is eager to tap into hydrocarbon deposits hitherto off limits thanks to President Obama’s energy policies. President-elect Donald Trump, however, has stated he would open up these territories for drilling as part of his stated efforts to stimulate the U.S. energy industry.

This move, however, is likely to cause yet another outcry among environmentalists and local communities because a lot of this federal land – all 500 million acres of it – is taken up by national parks, wildlife refuges, and Native American tribal territories.

While energy companies are looking forward to tapping the oil and gas – and coal, and uranium – reserves in these federal lands, the road to drilling may be tough going, Reuters notes, as environmental and conservation groups as well as local communities are more than likely to put up serious opposition, including lawsuits and intensive lobbying.

On the other hand, oil and gas players can count on the support of these same local communities, many of whose members have been stripped of any meaningful job prospects as things stand now, and will welcome the entry of drillers into federal lands.

Related: The Next Big Innovation In Oil & Gas: Cloud Computing

The House of Representatives, although GOP-dominated, could still throw a wrench into Trump’s plans for federal lands. Last week, the House voted in favor of a new bill aimed at facilitating the transfer of federal lands to states, communities, and Native American tribes. The bill stipulates no transfer costs for the federal budget and was initiated by the Republicans last year.

On the campaign trail, Trump said at an interview that he was unwilling to pass control of federal lands to the states because “[...] you don't know what the state is going to do.” Trump then went on to suggest that states might decide to sell off federal land if they experience financial trouble, which should not be allowed to happen.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News