North Dakota Gov.: Biden Oil and Gas Lease Halt Has Already Cost over $100 Million in Lost Revenue, Could Cost Billions if It Continues

On Friday’s broadcast of the Fox Business Network’s “Varney & Co.,” North Dakota Gov. Doug Burgum (R) discussed his state’s lawsuit against the Biden administration’s halt on oil and gas leases on public lands and said the suspension of the leases has already cost state, county, and local governments over $100 million in lost revenue, and “going forward, the cost could easily run into the hundreds of millions of dollars, and if it went on permanently, it could be billions of dollars.”

Burgum said, “Well, first of all, it’s required that the federal government hold leases quarterly. And so, we believe that the action to suspend the holding the leases is actually illegal and that’s part of the basis of the lawsuit. But we estimate that there is already over $100 million of lost revenue to the state, and that’s state, that’s counties, that’s local communities. That supports health, education, and all the basic services in our state. And so, that’s the cost already just on these canceled leases. But going forward, the cost could easily run into the hundreds of millions of dollars, and if it went on permanently, it could be billions of dollars.”

Follow Ian Hanchett on Twitter @IanHanchett

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