Interior launches oil and gas lease sale under new law slashing Biden-era royalty rates
Jul 26, 2025: 2:24 p.m.:
Interior launches oil and gas lease sale under new law slashing Biden-era royalty rates
@Interior announces oil & gas lease sale in NM—the first conducted under the One Big Beautiful Bill
The law “reset the royalty rate for new federal onshore oil and gas production to a minimum of 12.5%, reversing the 16.67% rate set by the Biden admin.”https://t.co/5c5S9i6V3w
— Rapid Response 47 (@RapidResponse47) July 26, 2025