U.S. Interior Blueprint Calls for Boosting Oil Royalty Rates (2)

The Biden administration on Friday issued a long-awaited blueprint for overhauling oil and gas development on federal lands that includes boosting royalty rates despite high gasoline prices that have spurred demands to accelerate domestic production.

The Interior Department report recommends higher fees and more limits on federal oil and gas leasing to better account for climate change and ensure a higher return to taxpayers. The analysis represents the culmination of a comprehensive review that President Joe Biden ordered in January.

The Interior Department said its 18-page blueprint could modernize oil and gas leasing programs “to better restore balance and transparency ...