"Zero Oil Companies Bid In BLM’s Nevada Lease Sale"

"The bust amplified conservationists’ calls to turn away from oil production in the state, where 95 percent of acres leased for oil development are nonproducing."

"The Biden administration’s oil auction in Nevada on Tuesday failed to tempt a single bidder, a bust that could amplify calls for the Silver State to focus more on renewable energy over oil.

The Bureau of Land Management offered nearly 5,000 acres for potential oil and gas development Tuesday in the south-central deserts of Nevada.

The sale, only the second in Nevada since President Joe Biden took office in 2021, comes on the heels of the Interior Department releasing draft regulations last week to formalize higher royalties mandated under the Democrats’ 2022 climate law, the Inflation Reduction Act, and enact new priorities that could mean fewer acres of public land end up on the auction block."

Heather Richards reports for E&E News July 26, 2023.

Source: E&E News, 08/01/2023