The US’ New Oil and Gas Leasing Policy will hamper the Growth of the Domestic Oil and Gas Industry
The US has amended the existing oil and gas leasing policy on public lands in order to improve the transparency in oil drilling. The reformed policy has stricter environmental standards for approval on oil drilling. The new policy is aimed at reducing the legal obligations and environmental protests on approval of oil and gas drilling on public lands. Domestic oil and gas companies face more duplications and redundant reviews, thus shifting the focus of domestic oil and gas industries overseas, despite the presence of high reserves. The reformed policy would increase the unemployment rates in the industry. Moreover, the current leasing irregularities have already resulted in the decline of leasing revenues. Nevertheless, addressing community concerns and reducing the legal obligations at the earliest phase of oil and gas development would accelerate the oil and gas development at later stages. However, the reformed policy can avoid several redundant approvals to reduce the burden on oil and gas companies. This would also encourage the growth of the domestic oil and gas industry and increase the oil and gas revenues.
- Analyses the impact of the US oil and gas leasing policies on the US oil and gas industry.
- Analyses the impact of the Stricter New Oil and Gas Leasing Regulations on the industry.
Reasons to buy
- Understand the impact of oil and gas leasing regulations on the US oil and gas industry.
- Gain understanding of the impact of shift in the US oil and gas policy in the new administration.