oil and gas

As the coronavirus pandemic hammers oil prices, the number of "orphaned" or abandoned oil wells could grow. A group wants to enlist newly unemployed oilfield workers in addressing the problem.

 


An image of a single oil derrick situated in the open spaces and mountains of Utah.
Bureau of Land Management

A federal report out this week shows that the Bureau of Land Management has more than halved the time spent reviewing oil and gas drilling permits, a reflection of how the agency's priorities have shifted under the Trump administration.

On Monday, domestic oil prices dropped more than 200 percent, settling at -$14.05 by day's end; the West Texas Intermediate (WTI) crude oil price benchmark momentarily hit -$40.32. This marks the first time oil prices have ever dropped into the negatives.

A close-up image of a sage grouse, a wide, chicken-like bird.
Bureau of Land Management

A federal judge in Idaho has ruled against the Trump administration’s decision to limit public input when leasing the West’s public lands to oil and gas drillers. The decision voids five oil and gas leases in three states.

An image of oil drills on public lands.
Bureau of Land Management

On the 100th anniversary of the Mineral Leasing Act of 1920, the nonpartisan group Taxpayers for Common Sense published a report Tuesday calling for an increase in the royalty rate on publicly owned oil and gas.

President Donald Trump somewhat misrepresented his administration’s role in the expansion of domestic oil and gas production during his State of the Union address Tuesday. 

Recent data shows that the U.S. had more minable oil and natural gas reserves than ever before.

Map of federal public lands in the West. BLM lands shown in yellow. The red pin marks Grand Junction, Colorado.
Headwaters Economics / headwaterseconomics.org

The Bureau of Land Management is moving more staff and—perhaps most significantly—its headquarters to the Mountain West.

Depending on who you ask, relocating the BLM’s headquarters from Washington, D.C. to Grand Junction, Colorado will make the agency more efficient, give preferential treatment to the fossil fuel industry—or even functionally dismantle it.

Bureau of Land Management

Much of the public lands leased for oil and gas in our region are acquired through a noncompetitive process with the Bureau of Land Management. A new report says that's not good for taxpayers.

The last time the royalty rate for oil and gas production on federal land changed was in 1920. Proposed legislation in the U.S. House of Representatives would address that, but the industry stands opposed.