New oil and gas leasing and production fees imposed under the Inflation Reduction Act will make oil exploration riskier on federal lands and cut down on speculation, but will provide greater certainty for the industry, analysts say.
The legislation (H.R. 5376) would provide greater clarity for the oil and gas industry in the short term because it provides a regular schedule of offshore oil and gas lease sales and encourages onshore leasing on federal lands, said Jason Hill, counsel at Hunton Andrews Kurth LLP in Houston.
The oil and gas industry has been concerned the future of oil ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.