Biden Raises Oil Drilling Royalties and Fees on Federal Land (1)

Oil and gas drilling will cost companies more and they’ll be restricted from developing in sensitive wildlife habitat under a public lands leasing rule the Interior Department finalized Friday.

Oil industry groups are already threatening to litigate because they argue the costs will drive oil companies away from federal land.

The rule is part of the Biden administration’s climate agenda to cut greenhouse gas emissions and conserve land and wildlife habitat while requiring oil and gas producers to pay fees that more accurately reflect the environmental impact of producing oil and gas on federal ...