Thursday, October 4, 2018
WASHINGTON (October 4, 2018) — The U.S. Department of the Interior’s Bureau of Land Management (BLM) has issued a final rule that revises the 2016 Waste Prevention Rule, also known as the venting and flaring rule. The new rule, which included a 60-day public comment period, is aimed at reducing unnecessary burdens on the private sector and restore proven regulations at a time when investment in federal onshore oil and gas is skyrocketing.
BLM reviewed the 2016 rule and found it had considerable overlap in existing state, tribal, and federal regulations. Additionally, the agency determined that the previous administration underestimated the cost of the 2016 rule. “Sadly, the flawed 2016 rule was a radical assertion of legal authority that stood in stark contrast to the longstanding understanding of Interior’s own lawyers,” said David Bernhardt, deputy secretary of Interior. “The Trump administration is committed to innovative regulatory improvements and environmental stewardship, while appropriately respecting the clear and distinct authorities of the states, tribes, as well as the direction we receive from Congress.” The venting and flaring rule was reviewed as part of Executive Order 13771, Reducing Regulation and Controlling Regulatory Costs; Executive Order 13783, Promoting Energy Independence and Economic Growth; and Secretarial Order 3349, American Energy Independence, issued March 29, 2017. BLM found that many parts of the 2016 rule were unnecessarily burdensome on the private sector.
At the same time, BLM’s third-quarter oil and gas lease sale in New Mexico has broken all previous records by grossing nearly $1 billion in bonus bids for 142 parcels. The two-day sale brought in more revenue than all BLM oil and gas lease sales in 2017 combined and surpassed the agency’s previous best sales year. Revenue from the sale totaled $972,483,619.50. “Critics of the administration’s American Energy Dominance policy often falsely claim there is little to no interest in federal oil and gas leases,” said Interior secretary Ryan Zinke. “Today they are eating their words and once again President Trump’s policies are bearing fruit for the American people.”
Zinke added that New Mexico residents will see about a half a billion dollars from the sale returned to their state’s treasury for roads, schools, and public services.
(SOURCE: The Weekly Propane Newsletter, October. 1, 2018)
BLM reviewed the 2016 rule and found it had considerable overlap in existing state, tribal, and federal regulations. Additionally, the agency determined that the previous administration underestimated the cost of the 2016 rule. “Sadly, the flawed 2016 rule was a radical assertion of legal authority that stood in stark contrast to the longstanding understanding of Interior’s own lawyers,” said David Bernhardt, deputy secretary of Interior. “The Trump administration is committed to innovative regulatory improvements and environmental stewardship, while appropriately respecting the clear and distinct authorities of the states, tribes, as well as the direction we receive from Congress.” The venting and flaring rule was reviewed as part of Executive Order 13771, Reducing Regulation and Controlling Regulatory Costs; Executive Order 13783, Promoting Energy Independence and Economic Growth; and Secretarial Order 3349, American Energy Independence, issued March 29, 2017. BLM found that many parts of the 2016 rule were unnecessarily burdensome on the private sector.
At the same time, BLM’s third-quarter oil and gas lease sale in New Mexico has broken all previous records by grossing nearly $1 billion in bonus bids for 142 parcels. The two-day sale brought in more revenue than all BLM oil and gas lease sales in 2017 combined and surpassed the agency’s previous best sales year. Revenue from the sale totaled $972,483,619.50. “Critics of the administration’s American Energy Dominance policy often falsely claim there is little to no interest in federal oil and gas leases,” said Interior secretary Ryan Zinke. “Today they are eating their words and once again President Trump’s policies are bearing fruit for the American people.”
Zinke added that New Mexico residents will see about a half a billion dollars from the sale returned to their state’s treasury for roads, schools, and public services.
(SOURCE: The Weekly Propane Newsletter, October. 1, 2018)
