Interior Withdraws Industry-Backed, Trump-Era Fossil Fuel Rule

Sept. 28, 2021, 5:10 PM

The Interior Department has withdrawn a Trump administration rule for how the agency values oil, gas, and coal produced from federal leases for royalty purposes.

Interior’s Office of Natural Resources Revenue withdrew the 2020 Valuation Reform and Civil Penalty Rule, and ratepayers and lessees now must report under pre-2020 regulations, according to an online notice to be published Thursday in the Federal Register.

The rule, which was eagerly anticipated by industry but derided by environmental groups, aimed to bring 2016 Obama-era valuation regulations in line with the Trump administration’s fossil fuels-focused energy agenda.

But Interior Secretary Deb Haaland said Tuesday ...

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