- Aug 16, 2019
- Reaction score
- Political Leaning
Outstanding, oil companies will need to either start using the unused federal leases, or pay a fine and lose their rights to the land. That in addition to the new daily releases of crude out of the federal reserves should have start reducing oil company profits and be seen as a reduction at the pumps.
Biden calls for ‘use it or lose it’ policy for oil leases on federal land
US President Joe Biden on Thursday slammed oil companies for refusing to increase production to make up shortfalls caused by the removal of Russian oil from US markets.