In accordance with the Big Beautiful Bill, the U.S. Department of the Interior is making changes to promote U.S. energy production – including in oil, gas, coal and timber – with an expert saying that such moves will protect the nation.
The Heritage Foundation’s Director of the Center for Energy, Climate and Environment Diana Furchtgott-Roth told The Center Square that “increases in energy production will insulate America from supply shocks caused by international events.”
Furchtgott-Roth explained that “during the Iran-Israel conflict, oil prices temporarily rose from $65 to $75 a barrel and then went right down again, because America’s oil supply drives prices, rather than OPEC supply.”
The Department of the Interior’s changes will affect onshore and offshore oil and gas development, coal, water infrastructure and hydropower, as well as forestry, according to a news release.
Tthe Interior Department said that the changes are needed “to ensure the responsible management of our natural resources and public lands.”
Federal royalty rates for on and offshore gas and oil development as well as for coal have been reduced. Changes will take place in leasing for these areas too, with a mandate being given “to increase the availability for lease of 4 million acres of public lands with known coal reserves.”
Additionally, a permit to drill for oil or gas onshore “will now be valid for a four-year period” upon approval.
