Washington kickstarts new drilling lease sales despite oil market slump


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Washington kickstarts new drilling lease sales despite oil market slump

Despite a flurry of fierce criticism from American taxpayers who suggested against any kind of new drilling lease amid a multi-year low gas and oil price, the US President Donald Trump alongside his administration had decided to move ahead with new drilling leases in four western states on Tuesday, the 24th of March 2020, downplaying the impact of a Saudi-triggered crude oil price war over market shares amid a global-scale outbreak of a pathogen which has been killing and infecting tens of thousands across the globe.

According to a statement from the US Energy Information Administration, the Bureau of Land Management in the United States had offered more than 210,000 acres in leases through online auctions in Nevada, Montana, Wyoming and Colorado, while the largest drilling ground up for leases had been in Wyoming covering 118,292 acres of land, which has been the second-biggest oil producer and the largest natgas mining state in the United States.

Meanwhile, despite oppositions from a raft of organizations such as Taxpayers for Common Sense, Conservatives for Responsible Stewardship and others, adding that the drilling on federal lands had been a critical part of Trump’s mandate in energy domination, a spokesman for the US Bureau of Land Management, Derrick Henry said on Tuesday (March 24th), “Using an all-of-the-above approach to energy development, we are helping to meet our nation’s growing energy needs by facilitating development and letting free market forces work after the resource is extracted by companies who sell these commodities.

Oil and gas lease sales and royalties continue to propel America’s economy and support good-paying energy sector jobs”.