Posted by Jeff on Jan 29, 2016 @ 2:09 am in Conservation | 0 comments | Last modified: January 28, 2016
For decades, the oil and gas industry has squatted on large tracts of public lands without paying royalties or allowing Americans access, but now is the time for reforms, according to a new report.
The report from The Wilderness Society explains how the oil and gas industry routinely exploits leasing loopholes known as “suspensions,” to stockpile leases that would otherwise expire due to lack of use.
These loopholes allow the industry to take lands off the books for decades at a time, preventing Americans from using them for recreation and conservation, and other companies from developing them.
In total, the oil and gas industry holds 3.25 million acres of lands in limbo—that’s nearly the size of the state of Connecticut.
Even more alarming is that under suspended leases, oil and gas companies oftentimes pay neither royalties nor rent, while our shared public lands are closed off to the public for any other use.
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