At the hand of the Obama administration, fees for drilling oil on public lands has gone up for the first time since the 1920’s. :)

The Obama Administration has increased public oil drilling fees by 50%, raising the rates that on-shore oil drilling companies pay from a 12.5 to 18.75 percent rate. Interior Secretary Salazar has reported that “no presidential administration has raised royalty rates on oil production since the 1920’s, and  that the 50 percent raise is necessary to generate a fair return for American taxpayers.” Not only has the administration pushed for the royalty increases, but there is also a movement by the Obama administration toward an exponential increases of wind and solar energy projects on land.

source, public oil fees: http://cleantechnica.com/2012/02/17/obama-hikes-royalties-on-oil-industry-by-50/

source, increases in wind and solar energy projects: http://cleantechnica.com/2011/12/31/obama-has-nearly-quadrupled-renewable-energy-on-public-lands/

keep reading: http://www.reddit.com/r/environment

Posted by: Bryan Fusfield

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